AGN - Botox Durability Is The Key Value Driver For Allergan
Despite failures and headwinds, there are many believers in the underlying value of Allergan
Allergan (AGN) faces numerous headwinds. The most visible headwind was Rapastinel, which recently failed to meet both primary and secondary endpoints in three pivotal studies for major depressive disorder.
Rapastinel’s failure was a setback for Allergan. Rapastinel was one of the company's "6 stars" - therapies that management had identified with the potential to generate as much as $13 billion in peak sales. Rapastinel also had the attention of the sell-side, as several banks had written deep-dive notes in