Allergan's William C. Shepherd to Retire, David Pyott Named to Become President and CEO; Dr. Herbert W. Boyer Named New Allergan Chairman.IRVINE, Calif.--(BW HealthWire)--Oct. 3, 1997--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) ) announced today the retirement of William C. Shepherd as an Allergan executive and as Chairman of the Board effective January 1, 1998. David Pyott, Head of Novartis' Nutrition Division and a Member of the Executive Committee of Novartis AG Novartis AG Swiss pharmaceutical company. It was formed through the 1996 merger of two Swiss firms: Ciba (see Ciba-Geigy) and Sandoz, a chemical company with interests in pharmaceuticals, nutrition, and agriculture. , has been named to become President and Chief Executive Officer of Allergan, Inc. with full responsibility for running the corporation effective January 1, 1998. Additionally, Dr. Herbert W. Boyer, a founder of Genentech and currently a member of Allergan's Board of Directors, will assume the title of chairman of the board of Allergan, Inc. effective January 1, 1998. "I have selected, with the Board's unanimous support, David Pyott as my successor," announced Allergan Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , William C. Shepherd. "David is a proven leader and has an exceptional track record in managing health care businesses. I am confident he will provide the leadership and drive to assume full responsibility for running Allergan. With my successor in place, I have decided to retire at the end of the year and the Board has agreed." "For the past 31 years I have dedicated my efforts to Allergan", continued Shepherd. "With the successful introduction of three major new products this past year and with a promising pipeline of new technologies and products that will create future value, I have decided that the timing is right for a change in Allergan leadership. This decision will provide me with the flexibility I desire to pursue new challenges and opportunities both personally and professionally." Shepherd started his career with Allergan in 1966 in the research department and has been President since 1984, Chief Executive Officer since January 1992 and Chairman since January 1996. "Because of my commitment to Allergan and because of my desire to assure a smooth transition in leadership to David Pyott, I will remain available to the Company as a consultant," added Shepherd. "The Board recognizes and appreciates Bill Shepherd's dedication and many contributions over 30 years," said William R. Grant, Chairman of the Organization and Compensation Committee of Allergan's Board of Directors. "Bill has been the driving force that has made Allergan a leading global specialty pharmaceutical company and the Board respects his decision to retire. The Board has fully empowered Bill in this interim period to continue to move the technology-driven strategy forward." "During the selection process, we saw some excellent individuals but David was David Was (born David Weiss, 26 October 1952, Detroit) is, with his stage-brother Don Was, the founder of the influential 1980s pop group, Was (Not Was). Reviewed by The New York Times our preferred candidate," continued Grant. "He has successfully managed a major division of the world's largest pharmaceutical company. We look forward with confidence to David Pyott assuming Allergan's leadership role." "I am excited about the acceptance of the new products already on the market, the promising technology pipeline, the company's commitment to quality, its dedication to the customer and its entrepreneurial spirit," said David Pyott. "Allergan is successfully positioned as a specialty pharmaceutical company and I look forward with great enthusiasm to leading the company, as its CEO, into the next millennium." David Pyott, 43, is currently the Head of the Novartis Nutrition Division and is a Member of the Executive Committee of Novartis AG. He holds a Master of Arts Master of Arts Noun a degree, usually postgraduate in a nonscientific subject, or a person holding this degree Noun 1. Master of Arts - a master's degree in arts and sciences Artium Magister, MA, AM degree from Edinburgh University in addition to an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the London Business School Around 800 degree students, from 70 countries, graduate from the school each year. Over 80 percent of students, and over 70 percent of faculty, come from outside the UK. A further 6,000 executives attend the school executive education programmes each year. and a diploma in law from the University of Amsterdam. After joining Sandoz in 1980, he worked in Operational Planning and International Product Management. He was subsequently appointed Marketing Manager in Malaysia/Singapore and General Manager in Austria and then in Spain. Prior to his appointment as Head of Sandoz Nutrition Sector in 1995, Mr. Pyott was President and Chief Executive Officer of Sandoz Nutrition Corporation (USA). Mr. Pyott was also appointed Member of the Executive Board of Sandoz in 1995. David is married with four children. Dr. Herbert W. Boyer Named New Allergan Chairman Herbert W. Boyer, Ph.D., 61, was elected to Allergan's Board in 1994 and is Chairman of the Board's Science & Technology Committee and is a member of the Audit Committee. Dr. Boyer, a founder of Genentech, Inc., a biotechnology company, has been a director of Genentech since 1976 and is a consultant to Genentech. He served as Vice President of Genentech from 1976 to 1991. Dr. Boyer, a Professor of Biochemistry at the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden from 1976 to 1991, demonstrated the usefulness of recombinant DNA technology recombinant DNA technology Recombining of DNA molecules from two different species that are inserted into a host organism to produce new genetic combinations that are of value to science, medicine, agriculture, or industry. to produce medicines economically, which laid the groundwork for Genentech's development. Dr. Boyer has also received numerous awards including the National Medal of Science The National Medal of Science is an honor bestowed by the President of the United States to individuals in science and engineering who have made important contributions to the advancement of knowledge in the fields of behavioral and social sciences, biology, chemistry, engineering, from President Bush in 1990 and the Albert Lasker Albert Lasker (1880-1952) is often considered to be the founder of modern advertising. He started out as a newspaper reporter while a teenager, but moved to Chicago and started working at Lord & Thomas advertising agency which he owned by the age of 20. Basic Medical Research Award in 1980. He is an elected member of the National Academy of Sciences and a Fellow in the American Academy of Arts American Academy of Art'' located in downtown Chicago, Illinois has been educating professional artists in both the commercial and fine art fields since 1923. Beginning with a solid foundation of drawing and design, based on the classical academic tradition, our dedicated and and Sciences. "Allergan has assembled one of the most promising portfolios of leading-edge technologies in its research and development pipeline," said Boyer. "The alpha2 agonist agonist /ag·o·nist/ (ag´ah-nist) 1. one involved in a struggle or competition. 2. agonistic muscle. 3. , neurotoxin neurotoxin /neu·ro·tox·in/ (noor´o-tok?sin) a substance that is poisonous or destructive to nerve tissue. neu·ro·tox·in n. See neurolysin. and retinoid retinoid /ret·i·noid/ (ret´i-noid) 1. resembling the retina. 2. retinal, retinol, or any structurally similar natural derivative or synthetic compound, with or without vitamin A activity. platforms are truly innovative, and well-calculated to facilitate the development of meaningful novel therapies. The science is exciting. The R&D teams are widely-known, well respected in their fields, and exceptionally skilled, with a network of world class collaborators and advisors in place, all focused on converting the promise of these technologies into products that satisfy unmet medical needs. I look forward to working with the Allergan management team and David Pyott in his new role to fill that promise and to create shareholder value through development and commercialization of these leading-edge technologies in order to achieve a sustainable competitive advantage." "The science and technology background Herb Boyer brings to the Board is well suited to realizing the promise of Allergan's technology-driven strategy," stated Grant. Forward-looking Statements Any of the above statements that refer to the company's estimated or anticipated future results are forward-looking and reflect the company's current analysis of existing information. Actual results may differ from current expectations based on a number of factors affecting Allergan's business, including the timing and uncertainty of research, development, regulatory and commercialization processes; that any product or compound in the Company's pipeline will be successfully developed, that the final results will be supportive of regulatory approvals required to market products, that patient or physician acceptance of these products will be achieved. These forward-looking statements represent the company's judgment only as of the date of this press release. Actual results could differ materially from expectations reflected in this release. As a result, the reader is cautioned not to rely on these forward-looking statements. The company disclaims any intent or obligation to update these forward-looking statements. Additional information concerning Allergan can be found in press releases as well as in the company's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading "Certain Factors and Trends Affecting Business" in Allergan's 1996 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 press releases and additional information about Allergan are available publicly on the Internet at www.allergan.com , or by calling Allergan's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department at 714/246-4636. Allergan, Inc., headquartered in Irvine, is a technology-driven, global health care company focused on specialty pharmaceutical products for specific disease areas that deliver value to customers, satisfy unmet medical needs and improve patients' lives. CONTACT: Allergan Inc., Irvine Jeff D'Eliscu, 714/246-4636 (office) 714/675-9475 (home) |
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