February 8, 2017 / 3:00 PM / a year ago

BRIEF-Allergan says does not see U.S. tax reform in 2017

Feb 8 (Reuters) - Allergan Plc -

* Allergan CEO “We have a good report card for 2016 and a positive outlook for 2017 and beyond”

* Allergan CEO “We are optimistic that the new administration is pro-growth, pro-innovation and against overregulation that could stifle investment & growth”

* Allergan CEO says is pleased to see number of peers are following the Co’s lead & becoming vocal about actions they are taking to price products responsibly

* Allergan chief commercial officer says is pleased with performance of viberzi; says “it looks and feels just like linzess”

* Allergan CEO says “We are engaged with the new administrationand certainly the key folks within congress”

* Allergan CEO: “There’s no real plan yet for what tax reform will look like nor when it will appear”

* Allergan CEO: “something that could be detrimental or have a negative effect could be a border adjustment”

* Allergan exec says “In August, we will evaluate whether to sell Teva stock”

* Allergan exec says expected U.S. Tax reform does not change co’s view on capital deployment, specifically for 2017

* Allergan CEO “i don’t think we will see tax reform in 2017”

* Allergan says could see some volume erosion for restatis with some modest price appreciation in 2017 or, the reverse, depending on formulary coverage

* Allergan: in Q4 there were no surprises with restasis, no major swings in wholesaler buying patterns; growth was driven by a solid mix of volume & price

* Allergan CEO: “With respect to capital allocation in 2017, we are not really looking to add another buyback”

* Allergan CEO: “I still think our stock is undervalued”

* Allergan CEO: The focus will be on both accretive & pipeline building transactions in 2017, but will give more weight to accretive deals

* Allergan exec says Co isn’t assuming any near-term estrace generic launch, but Allergan is prepared to launch an authorized generic in the event that happens

* Allergan exec says in 2017, allergan is committed to growing expenses lower than sales

* Allergan CEO says is focusing right now on is moving the market from awareness and trial to adoption, in relation to fat-chin reduction injcetion kybella

* Allergan CEO says “we feel very strongly in our intellectual property position” in relation to restasis

* Allergan CEO says even with introduction of oral cgrp’s for migraine, “there is a place for botox and it’s going to continue to be a growth driver”

* Allergan CEO says a split of the company’s consumer business and prescription treatment division is “not on the table” Further company coverage:

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