In the midst of a possible hostile takeover, Allergan Pharmaceuticals, the makers of Botox®, say physicians and medical societies are getting involved. Doctors like William P.Adams Jr. are sitting down to write letters expressing their growing concern. They’re supporting Allergan in the resistance of a takeover by the Canadian company, Valeant Pharmaceuticals International.
By Carolynn Grimes
The Plastic Surgery Channel
The Plastic Surgery Channel interviewed the President of U.S. Medical for Allergan, Philippe Schaison via Skype.
“Allergan has now received more than 600 letters from physicians; not only physicians but medical societies such as [ASAPS] the American Society for Aesthetic Plastic Surgery, saying this is not a good thing for physicians, patients nor innovation.”
The main point of disagreement is Valeant’s suggestion that it could sharply cut Allergan’s funding in research-and-development. According to Schaison, Allergan is spending roughly a billion dollars a year to bring new innovations to the medical market.
New innovation means better quality of life for patients
“I work for a company that discovers new innovation and discovers new drugs; that’s why I’m working for Allergan. I’m all about science and we have the duty to bring innovation to patients and physicians. If you stop innovation, within two years you are obsolete,” says Schaison.
“Allergan is far from obsolete, just last year the company introduced Voluma to the U.S., a facial filler, so innovative, it has captured a 15 percent market share in six months.
Also, launching this year, a product called Seri-scaffold, a bio-degradable scaffolding material used in procedures requiring tissue support in the breast and abdomen.”
It’s not just a concern over research and development, says Dr. Adams. “Allergan has been the industry leader in surgeon education for over a decade, and continually offers patient programs that bring patients into the office. Losing those key programs would be a big blow to doctors and patients.”
However, if the takeover is a success, Schaison says there will be a decline in new product development. And without new development, patients and doctors lose out on cutting-edge development and progress.
To date, Allergan has repeatedly rejected offers from Valeant saying they are underpriced and risky.