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STAT Plus: Pharmalittle: Allergan shareholders nix proposal to split CEO and chairman roles; FDA orders warnings for sleeping pills




Good morning, everyone, and welcome to the middle of the week. Hard to believe we arrived here so quickly, yes? Well, this means only a few more days until the weekend arrives. So keep plugging away. After all, what are the alternatives? While you ponder the possibilities, we invite you to join us for a delightful cup of stimulation. Remember that no prescription is required, which means there is no rebate involved. How about that? Meanwhile, here are a few items of interest. Hope you have a smashing day and, as always, keep us in mind when you run across anything fascinating. …

Allergan (AGN) shareholders rejected a proposal to order the immediate split of the chairman and chief executive roles, with 61.3% of shareholders backing Brent Saunders, who holds both jobs, Reuters reports. The Appaloosa hedge fund, run by billionaire investor David Tepper, made the proposal, arguing Allergan has a questionable business strategy and excessive executive pay. Allergan is under pressure to rescue its falling stock price and agreed in March to split the chairman and CEO roles, but only at its next leadership change. Saunders, 49, has no plans to step down.

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