llergan plc (NYSE: AGN), a leading global pharmaceutical company, today hosted its R&D day where the Company outlined its 'Open Science' R&D model that is helping to build therapy area leadership and drive the Company's long-term growth. The meeting also featured highlights and upcoming milestones for game-changing late-stage pipeline development programs from across Allergan's leading therapeutic categories.
'Over the past 15 years, the pharmaceutical innovation ecosystem has shifted. Where global pharma companies had previously driven the lion's share of new product revenue, now the driving source of innovation is coming from smaller biotechnology and specialty pharma companies, as well as academia. Open Science defines our position in this new ecosystem – as a magnet for game-changing ideas and innovation. We bring these programs into our best-in-class product development and commercialization platform to build a sustainable R&D portfolio that enables Allergan to continue to be a leader in Growth Pharma,' said Brent Saunders, President and CEO of Allergan. 'Through our Open Science model, we seek to continue to drive strong R&D productivity by delivering innovative therapies that create long-term shared value for Allergan, for customers and for patients.'
The Company's R&D pipeline has delivered strong productivity within the last year, with 58 significant pharma and device submissions and approvals in the U.S. and internationally. Through its Open Science strategy, the Company has also added multiple late-stage product opportunities from the innovation ecosystem, including from the recent acquisitions of Kythera, Naurex, Oculeve and AqueSys and a licensing agreement with Merck to acquire the rights to its oral CGRP compounds.