As disaster struck, AbbVie’s Rick Gonzalez swooped in on Allergan with an offer Brent Saunders couldn’t say no to
Early March was a no good, awful, terrible time for Allergan CEO Brent Saunders. His big lead drug had imploded in a Phase III disaster and activists were after his hide — or at least his chairman’s title — as the stock price continued a steady droop that had eviscerated share value for investors.
But it was a perfect time for AbbVie CEO Rick Gonzalez to pick up the phone and ask Saunders if he’d like to consider a “strategic” deal.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 120,000+ biopharma pros reading Endpoints daily — and it's free.