Sitting Down With… David Pyott, Former Chairman of the Board and Chief Executive Officer of Allergan, Inc.
Charlotte Barker |
How would you describe the battle you fought for Allergan over much of last year?
To an American, I would say it was like being in the Marine Corps; to a European, I would say it was like 1939. We were fortunate to have people who were very experienced and very tough. From early on, we believed Valeant was trying to steal Allergan for far less than its true worth, so our job became to drive up the share price. We rallied together – and it’s a tremendous commendation for the whole team that we still managed to grow 17 percent globally last year.
In the end, we focused on value. We had to cut costs ourselves to bolster the stock price, but a lot of our customers rallied behind us too. They prescribed Allergan instead of a competitor’s product because they wanted to support us. They believed in what we’d been doing for innovation, patient care and physician education, and it showed.
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