Allergan Shifts Strategy to Focus on Growth

Drug company Allergan (AGN) - Get Report is set to shift its focus towards accretive M&A and away from the early-stage pipeline acquisitions that have disappointed investors, Allergan said at the 35th annual J.P. Morgan Healthcare Conference.

Examples of some recent Allergan acquisitions include its announcement in December that it would purchase regenerative medicine company LifeCell for $2.9 billion in cash from privately held Acelity. Allergan also engaged in a $639 million buyout of Vitae Pharmaceuticals (VTAE) .