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Valeant Takes Allergan Complaints to Regulators

Mon, 07/21/2014 - 8:23am
The Associated Press

Valeant Pharmaceuticals International Inc. is complaining to regulators that Botox maker and acquisition target Allergan has been making false statements about its business.

The Canadian drugmaker Valeant is trying to acquire California-based Allergan, which has rebuffed several takeover bids and adopted an anti-takeover measure to discourage future attempts.

Valeant says that Allergen continues to make misleading statements about Valeant's business even though Valeant has publicly corrected it. It says the latest statement involves the performance of contact lens maker Bausch + Lomb, which Valeant acquired last year.

An Allergan spokeswoman declined to comment early Monday morning.

Valeant has complained to the Securities and Exchange Commission and regulators in the Canadian province of Quebec, where Valeant is based.

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