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Allergan was expected to announce soon that it would follow its shareholders' advice and split the company in two, but it's being acquired by AbbVie for $63bn instead, finally giving investors a big boost in their Allergan holdings after years of decline.
Days after surviving a shareholder vote to split up his roles, chairman/CEO Saunders says unhappy investors have been heard and change is coming. As for details, everything is on the table.
After disappointing top-line Phase II data in diabetic peripheral neuropathy with NYX-2925, Aptinyx says the full dataset shows significance across endpoints in patients four years or more past diagnosis; a second Phase II study in this subgroup is planned.
Allergan will split the CEO and chairman roles as requested by Appaloosa, but only in the next leadership transition. The activist shareholder fired back with renewed opposition to leaving Brent Saunders in both top jobs.