How could you make a Bristol-Myers takeover work without shredding a $5B R&D division?
When Carl Icahn bought into Allergan last May, the combative activist investor immediately put out a statement that put him squarely in the Brent Saunders fan club. Allergan $AGN CEO Saunders had made money for Icahn before, when the activist helped bring him into Forest Labs as he was pushing that company to make some big changes. And Icahn felt that he would continue to make money at Allergan.
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