Hedge Funds David Tepper

  • June 25- Drugmaker AbbVie Inc said on Tuesday it would acquire Allergan Plc for about $63 billion, giving AbbVie control over the lucrative wrinkle treatment Botox and buying time to seek new growth before its blockbuster arthritis treatment Humira loses U.S. patent protection. But it now faces competition from cheaper versions in Europe and a 2023...

  • June 25- Drugmaker AbbVie Inc said on Tuesday it would acquire Allergan Plc for about $63 billion, giving AbbVie control over the lucrative wrinkle treatment Botox and buying time to seek new growth before its blockbuster arthritis treatment Humira loses U.S. patent protection. But it now faces competition from cheaper versions in Europe and a 2023...

  • June 25- Drugmaker AbbVie Inc said on Tuesday it would buy Botox-maker Allergan Plc for about $63 billion, grabbing control of by far the biggest name in medical aesthetics to help reduce its reliance on blockbuster arthritis treatment Humira. AbbVie has been under pressure to diversify its portfolio as Humira, the world's best-selling drug, is already in...

  • June 25- Drugmaker AbbVie Inc said on Tuesday it would buy Botox-maker Allergan Plc for about $63 billion, grabbing control of by far the biggest name in medical aesthetics to help reduce its reliance on blockbuster arthritis treatment Humira. Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total...

  • A clinical technician holds a syringe and a vial of Allergan Botox, produced by Allergan.

    Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.

  • NEW YORK, May 1- Allergan Plc shareholders have voted down a nonbinding proposal that sought an immediate split of the roles of chairman and chief executive, with 61.3 percent of shareholders backing Chairman and CEO Brent Saunders. Billionaire investor David Tepper's hedge fund Appaloosa LP made the proposal, arguing that drugmaker Allergan currently has a...

  • April 15- Two major shareholder advisory firms urged investors to vote against billionaire investor David Tepper's hedge fund demand that Allergan Plc immediately split the roles of chief executive officer and chairman, in a boost to the Botox maker. The recommendation from Institutional Shareholder Services LP and Glass Lewis& Co against the proposal of...

  • April 15- Allergan Plc said on Monday that proxy advisory firms Institutional Shareholder Services Inc and Glass Lewis& Co had urged its shareholders to vote against hedge fund Appaloosa Plc's proposal to immediately separate the drugmaker's chief executive officer and chairman roles. Appaloosa, led by billionaire David Tepper, has been pressing Allergan...

  • March 25- Activist investor Appaloosa LP said on Monday that Allergan Plc's board was doing "everything except what needs to be done" in a series of concessions the drug company announced last week in response to criticism from the hedge fund. A source close to Allergan told Reuters on Friday that current Chairman and CEO Brent Saunders, 49, has no plans to step...

  • March 22- Allergan Plc on Friday agreed to split its chairman and chief executive roles, but only at its next leadership change, as the drugmaker pushed back against claims from activist hedge fund Appaloosa LP that an independent chair could help current CEO Brent Saunders boost the company's sagging share price. The Botox maker announced the change in its...

  • March 22- Allergan Plc plans to elect an independent board chairman, starting with the next leadership transition, the Botox maker said on Friday, as the drugmaker responds to calls from hedge fund Appaloosa LP to separate the roles of chairman and chief executive officer. Appaloosa, led by billionaire David Tepper, has been pressing Allergan since last year to...

  • March 7- Hedge fund Appaloosa LP on Thursday repeated its call for an independent chairman at Allergan Plc, after the Botox producer revealed that one of its drugs had failed three clinical studies. Allergan announced on Wednesday that rapastinel, its depression treatment, had failed to meet clinical goals in three late-stage trials, spurring concerns among...

  • A woman works at Allergan's R&D and global production site in Pringy, France.

    Allergan said its experimental add-on treatment for depression failed three late-stage studies, casting doubts over its drugs pipeline.

  • Feb 19- Billionaire hedge fund manager David Tepper stepped up pressure on Allergan Plc, saying on Tuesday the drugmaker should consider selling itself if management is unable to turn around recent lagging performance. Tepper's hedge fund Appaloosa LP wrote to Allergan's board, just hours after the Botox maker announced it had added a former industry...

  • Feb 19- Billionaire hedge fund manager David Tepper stepped up pressure on Allergan Plc, saying on Tuesday the drugmaker should consider selling itself if management is unable to turn around recent lagging performance. Tepper's hedge fund Appaloosa LP wrote to Allergan's board, just hours after the Botox maker announced it added a former industry executive...

  • Feb 19- Billionaire hedge fund manager David Tepper stepped up pressure on Allergan Plc and said on Tuesday the drugmaker should consider selling itself if management is unable to turn around recent lagging performance. Tepper's hedge fund Appaloosa LP wrote to Allergan's board on Tuesday, just hours after the Botox maker announced it added a former...

  • NEW YORK, Feb 14- Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley majors such as Apple Inc and Facebook Inc while global stock markets cratered during the fourth quarter, according to securities filings released on Thursday. Activist hedge fund Jana Partners sold out of its position in major Chinese e-commerce...

  • Appaloosa's David Tepper submits new proposal to shareholders

    CNBC's Leslie Picker follows the money and reports on Appaloosa's David Tepper as he submits his letter to shareholders upping the pressure on Allergan.

  • BOSTON, Feb 5- Hedge fund Appaloosa LP on Tuesday urged pharmaceutical company Allergan Plc to split its chairman and chief executive roles, arguing that an independent chair could help CEO Brent Saunders boost the company's sagging share price. Appaloosa's billionaire founder David Tepper turned up the heat on the Botox maker one week after the company...

  • BOSTON, Feb 5- Hedge fund Appaloosa LP on Tuesday urged pharmaceutical company Allergan PLC to split its chairman and chief executive roles, arguing that an independent chair could help boost the company's sagging share price. Appaloosa's billionaire founder David Tepper turned up the heat on the maker of Botox one week after the company delivered...