(Reuters) – Allergan Plc Chief Executive Brent Saunders said on Tuesday that he and the board of directors were looking with a sense of urgency at all options to revive the Botox maker’s falling share price, but a lack of specifics failed to boost investor sentiment.
The Allergan logo is seen in this photo illustration November 23, 2015. REUTERS/Thomas White/Illustration/File Photo
Allergan shares fell more than 4 percent despite reporting better-than-expected first-quarter profit and raising its 2019 sales and earnings forecasts, more than twice the drop in the broader markets. They are trading nearly 60 percent below their 2015 high of about $340.
“We leave the first-quarter call with even less confidence that value in Allergan will be unlocked over the near term; catalysts are few,