Allergan spins off AMO
This article was originally published in The Gray Sheet
Executive Summary
Advanced Medical Optics ophthalmic surgical and contact lens care businesses are spun-off July 1 via tax-free dividend to shareholders, with one AMO share distributed for every 4.5 Allergan shares held. Plans for the move were first announced in January (1"The Gray Sheet" Jan. 28, 2002, p. 11). AMO, which generates about $500 mil. in revenues, will move to Santa Ana, California from Irvine on Aug. 1. Allergan says that the spin-off will allow the firm to focus on its core pharmaceuticals business...