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Key people at Allergan.
Allergan is a global pharmaceutical company based in Irvine, California, and Dublin, Ireland, that develops and manufactures branded drugs, medical devices, and biologic products. The corporation specializes in medical aesthetics, eye care, and the central nervous system, producing widely recognized flagship brands such as Botox, Juvéderm, and Restasis. Prior to its acquisition by AbbVie in a transaction valued at approximately $63 billion in 2020, the enterprise generated over $15 billion in annual revenue and employed roughly 18,000 people worldwide. The business previously underwent significant structural changes under former chief executive officer Brent Saunders, including a $66 billion acquisition by Actavis in 2015 and the subsequent $40.5 billion sale of its generic drug division to Teva in 2016. Allergan was originally founded in 1948 by pharmacist Gavin S. Herbert and later incorporated during 1950.
Key people at Allergan.
Allergan plc is a global pharmaceutical and aesthetics company specializing in eye care, dermatology, neuroscience, and medical aesthetics products, most famously known for Botox. Originally founded in 1950 as a small producer of eye drops, it evolved into a major player through innovation in ophthalmics, acquisitions, and diversification into injectables and devices, before being acquired by AbbVie in 2020 and operating as Allergan Aesthetics, an AbbVie company focused on advancing aesthetic medicine with brands in facial injectables, body contouring, plastics, and skin care.[1][2][3][7]
The company serves patients, physicians, and consumers worldwide, addressing problems like eye inflammation, glaucoma, dry eyes, skin conditions, migraines, and aesthetic concerns through products such as Restasis, Refresh, Juvederm, and Botox, which generated $2.2 billion in revenue by 2017. Its growth momentum included key mergers like Actavis in 2015 (forming Allergan plc with $16 billion revenue by 2018) and AbbVie integration, expanding from ophthalmics to a broad portfolio amid rising demand for aesthetics and therapeutics.[2][3][4][7]
Allergan traces its roots to 1948–1950, when pharmacist Gavin S. Herbert founded Allergan Pharmaceuticals in Los Angeles alongside chemist Stanley Bly, starting with an antihistamine nasal spray named Allergan and quickly pivoting to eye drops like the anti-allergy formulation that drove early sales of just over $4,000 in 1950.[1][2][3][4] By 1953, they launched Cortefrin (first cortisone eye drop) and Prednefrin (first ophthalmic steroid decongestant), establishing sterile ophthalmic production capabilities amid modest profitability.[1]
Pivotal moments included Gavin Herbert Jr. taking leadership in the late 1950s, narrowing focus to ophthalmics to compete with giants; going public in 1970; acquisition by SmithKline in 1980 and spin-off in 1989; and acquiring Oculinum in 1991, renaming its product Botox (FDA-approved for medical use that year).[1][2][3] The 2015 merger with Actavis plc created Allergan plc via tax inversion, and in 2019–2020, AbbVie acquired it for $63 billion, humanizing its journey from a pharmacist's garage startup to an aesthetics powerhouse.[2][3][5][7]
Allergan rides the aesthetics and biotech convergence trend, blending pharmaceuticals with medtech devices amid booming demand for non-invasive cosmetics (Botox/Juvederm) and therapeutics for aging populations and chronic conditions like glaucoma.[2][4][7] Timing mattered post-2015 Actavis merger, leveraging tax strategies during pharma consolidation waves, and AbbVie's 2020 acquisition amid M&A surges (e.g., $160B Pfizer bid in 2015), capitalizing on Botox's blockbuster status.[3][5]
Market forces like rising aesthetic procedures, eye care needs from screen time/demographics, and regulatory approvals (e.g., Botox expansions) favor it, influencing the ecosystem by setting standards in injectables, funding ophthalmology research, and enabling AbbVie's diversified portfolio against patent cliffs.[1][2][7]
Allergan Aesthetics will likely deepen R&D in next-gen injectables, AI-enhanced devices, and personalized aesthetics, propelled by AbbVie's resources amid aging global populations and telemedicine growth. Evolving trends like sustainable biotech and combo therapies (e.g., Botox with skin tech) could amplify influence, potentially spinning innovations or partnering in neuro-aesthetics. This builds on its eye-drop origins to redefine beauty and health tech, sustaining leadership from a 1950 startup to tomorrow's medtech titan.[7]
Allergan has 1 tracked investment across 1 company. The latest tracked deal is $8.0M Series B in BAROnova in October 2008.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Oct 1, 2008 | BAROnova | $8.0M Series B | Allergan | Arboretum Ventures, Goodwater Capital, Highland Capital Partners, ONSET Ventures |
