Allergan's Chairman and Chief Executive Officer Adopts Rule 10b5-1 Stock Trading Plan.IRVINE, Calif. -- Allergan, Inc. (NYSE NYSE See: New York Stock Exchange :AGN AGN Again (Amateur Radio) AGN Active Galactic Nucleus AGN Acute Glomerulonephritis AGN Accountants Global Network AGN Air Gabon (ICAO code) ) today announced that David E.I. Pyott, Chairman of the Board and Chief Executive Officer, has entered into a Rule 10b5-1 plan to effect the orderly exercise of certain employee stock options and the sale of underlying shares over an approximately two and a half year period ending in August of 2008. The stock options subject to the plan - which represent less than 25% of Mr. Pyott's currently granted employee stock options - are from grants made in 1997 through 1999, as well as certain premium-priced stock options that expire in 2007. Mr. Pyott's 10b5-1 plan supports asset diversification and planned philanthropic giving by Mr. Pyott. Mr. Pyott presently is in full compliance with the company's stock ownership guidelines for its executive officers and intends to remain in compliance throughout this stock trading plan. Transactions under this plan will be disclosed publicly through Form 144 and Form 4 filings with the U.S. Securities and Exchange Commission (SEC). The Form 4 filings will also be posted on Allergan's investor relations Investor relations The process by which the corporation communicates with its investors. Web site at www.allergan.com. "Since joining Allergan in 1998, I have avoided significant Allergan stock sales," explained Mr. Pyott. "My 10b5-1 program will allow me to diversify a modest portion of my portfolio before those stock options expire and support my plans for philanthropic giving. I will continue to hold a substantial position in Allergan, and the overwhelming majority of my net worth will remain associated with Allergan stock, as I believe strongly in our business and pipeline and intend to keep my interests firmly aligned with my fellow Allergan stockholders." This selling program is based on the SEC's Rule 10b5-1, which protects company executives from possible claims of insider trading by permitting executives to buy or sell a predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: amount of their company's shares, as set forth in a planned acquisition or divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). program which was adopted when the insider did not possess material non-public information. About Allergan, Inc. Allergan, Inc., with headquarters in Irvine, California Irvine is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28 1971, the 69.7 square mile (180.5 km²) city has a population of 202,079 (as of 2007). , is a technology-driven, global specialty pharmaceutical and medical device company that develops and commercializes innovative products for the ophthalmology ophthalmology (ŏf'thălmŏl`əjē), branch of medicine specializing in the anatomy, function and diseases of the eye. Ophthalmologists specialize in the medical and surgical treatment of eye disorders, vision measurements for , neurosciences, medical dermatology dermatology (dûrmətŏl`əjē), branch of medicine concerned with diagnosis and treatment of diseases and disorders of the skin. , medical aesthetics and other specialty markets. Allergan is dedicated to delivering value to its customers, satisfying unmet medical needs, and improving people's lives. Forward-Looking Statements This press release contains "forward-looking statements," including, but not limited to, the statements by Mr. Pyott. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Allergan's expectations and projections. Risks and uncertainties include, among other things, the uncertainties regarding the regulatory approval process and the timing associated therewith there·with adv. 1. With that, this, or it. 2. In addition to that. 3. Archaic Immediately thereafter. Adv. 1. ; general industry and pharmaceutical market conditions; general domestic and international economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents obtained by competitors; challenges inherent in product marketing such as the unpredictability of market acceptance for new pharmaceutical and biologic products and/or the acceptance of new indications for such products; domestic and foreign health care reforms; the timing and uncertainty of the research and development and regulatory processes; trends toward managed care and health care cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. ; the uncertainties associated with the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and appeal process; and governmental laws and regulations affecting domestic and foreign operations. Allergan expressly disclaims any intent or obligation to update these forward-looking statements except as required to do so by law. Additional information concerning these and other risk factors can be found in press releases issued by Allergan, as well as Allergan's public periodic filings with the Securities and Exchange Commission, including the discussion under Item 1A of Part I, "Risk Factors," in Allergan's 2005 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Copies of Allergan's press releases and additional information about Allergan are available on the World Wide Web at www.allergan.com or you can contact the Allergan Investor Relations Department by calling 1-714-246-4636. |
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