Allergan to Consolidate European Operations
From Bloomberg News
Allergan Inc., the maker of Botox injections to smooth wrinkles, said it would consolidate its European research and development operations to save as much as $9 million a year.
Operations at the plants to be closed will be moved to Britain, Ireland and the U.S., Irvine-based Allergan said. The closings, which also affect some sales operations, will cost the company about $50 million to $60 million through the second quarter of 2006.
Shares of Allergan rose $1.24, or 1.6%, to $81.02 on the NYSE.
