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Shares of Allergan (AGN) have been under pressure, falling more than 30% from their all-time high.

Due to Allergan's strong business, pending sale of its generic-drug business and top-notch chief executive, investors should take advantage of the price decline and load up on the stock.

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Allergan offers a world-class portfolio of high-quality assets that provide treatment in a variety of significant areas, including aesthetics, eye care, the central nervous system, women's health, urology, and cardiovascular and infectious diseases. Combine this with the fact that Allergan is an industry leader in research and development and boasts one of the most robust product pipelines in the industry, and that adds up to a sustainable business with a strong growth opportunity. 

The company also happens to operate the third-largest generic-drug business in the world, but it is selling it to Teva Pharmaceuticals for $40 billion. The sale is pending and is expected to close sometime in the near future.

The $40 billion will allow Allergan to pay off debt, buy back stock, and pursue aggressive mergers and acquisitions activity. This tremendous opportunity for Allergan should lead to solid top and bottom line growth. 

Perhaps the most important piece of the equation is Chief Executive Brent Saunders. He has an impressive track record in terms of his ability to create value for shareholders, and he is in a prime position to do just that.

The exact timing of when all this will occur is tough to determine, but investors can be sure that Saunders will take full advantage of this opportunity and will do what is best for the company. 

Prominent activist investor Carl Icahn recently purchased a large position in Allergan in which he released a statement saying that he has great confidence in Saunders' ability.

It wasn't long ago that Allergan was set to merge with Pfizer in a $160 billion deal. That deal ended up being blocked, but that doesn't change the fact that the value placed on it is about 40% above its current value. 

Now Allergan will continue to operate as a stand-alone business, and Saunders has every intention of pushing the company's market capitalization higher. There is no reason to believe that he won't make it happen. 

Simply put, Allergan presents investors with the opportunity to buy a solid sustainable business that has a massive opportunity to create value for shareholders in a multitude of ways. 

Take advantage of the decline in its stock price by buying shares and holding them until this potential is fulfilled. 

This article is commentary by an independent contributor. At the time of publication, the author was long AGN.