Valeant wins over docs with trips, fees
Valeant's Allergan takeover strategy includes assuring doctors that things will run smoothly, if and when, the company takes over the drug manufacturer. The Wall Street Journal reports that the PR efforts have included meeting with 45 cosmetic surgeons and dermatologists at expenses-paid meetings in Colorado and Florida, as well as talk about consulting opportunities that could garner doctors close to $30,000 in income.
Allergan has been fighting the takeover for months, and has asserted that a Valeant-led company would not be able to provide the type of support professionals expect for its product lines. Early sentiment checks indicated doctors weren't thrilled by the possible takeover, but the Journal says Valeant's efforts to temper concern seems to be working.
“I thought they were the big, bad corporate raider. I came out with a warm fuzzy feeling afterward,” plastic surgeon Jason Pozner tells the Journal.
Recent news indicates that Valeant's efforts may be for naught: Bloomberg reports Actavis is circling, and is offering close to $60 billion to ally itself with Allergan.