Business briefs: Endo; Allergan
Endo, which has been reportedly on the hunt for a buyer, named former Valeant president Rajiv De Silva president and CEO, effective March 18. The company's C-Suite shakeup has given a boost to its stock price, which hit its highest point since January 30, reported Bloomberg.Allergan has settled a Botox-related lawsuit in Oklahoma for an undisclosed amount, according to Bloomberg. The company was sued by the mother of a teenager who claimed the treatment, used for a leg condition, in this case, led to his death. She also alleged Allergan “promoted the drug for children despite a lack of regulatory approval for such use." This is not the first time the company has been accused of marketing the drug for unapproved uses—as Pharmalot noted in June, the company paid $600 million three years ago for off-label promotion.