IRVINE, Calif., Sept. 27, 2016 /PRNewswire/ -- A new study
conducted by the Orange County Business Council (OCBC) found that
Allergan's California operations
generated a combined annual economic activity in the state of
approximately $6.35 billion and net
economic impact of $3.45 billion. The
economic impact is a direct result of the Company's strong
influence on employment in the state, generating more than 16,600
direct, indirect and induced jobs, with annual total statewide
labor income of ~$1.55 billion.
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The economic impact study, titled "The Economic Impact of
Allergan on the California Economy," was conducted and developed by
Dr. Wallace Walrod, Chief Economic
Adviser, at the Orange County Business Council.
"The findings of this study clearly showcase the value and
leadership of Allergan within our local and state economies, adding
significant economic impact and contribution to California's highly skilled labor force.
Allergan's success is a testament to the importance of attracting
and retaining strong, growing companies to Orange County, and California—ensuring we have
a growing, vibrant economy for years to come," Dr. Walrod said.
"Since our founding in Los
Angeles in 1948, and throughout our history in Southern California, Allergan has been very
proud of the significant impact we've had on this region and the
State of California for nearly 70
years. Our more than 2,000 employees in California today, and the many that came
before them, have discovered and developed some of the most
innovative medicines and products in our industry. These medicines
have had a profound impact on the care of patients in more than 100
countries around the world," said Brent
Saunders, President and CEO of Allergan. "Allergan's rich
history and impact for patients has not been achieved alone. Our
success has been made possible by being in a supportive business
environment – access to a highly skilled workforce, collaboration
with leading medical professionals and institutions like the
University of California at Irvine, and
the unwavering support of local, state and federal elected
officials and trade associations make Orange County and California a great business partner for
companies like Allergan."
Additional findings from the OCBC study include:
- Allergan's California
operations generated annual total statewide labor income of
approximately $1.55 billion,
providing value added benefits of $3.45
billion to the state.
- Allergan is a significant contributor to California state and local tax revenue. In
2016, combined taxes paid directly by Allergan in the state are
expected to exceed $108 million.
- Allergan's California
workforce earns annual compensation, including benefits, of more
than $438 million in total
compensation, with average annual compensation for Allergan
employees of more than $200,000, far
exceeding the state's average annual wage of $55,260.[1]
- The Allergan Foundation, a U.S.-based, private charitable
foundation committed to providing a lasting and positive impact in
the communities in which Allergan plc employees live and work, has
a long history of providing charitable grants and philanthropy in
the state. Between 2011 and 2016, the Foundation provided grants to
more than 450 California organizations
totaling more than $11 million.
"Allergan has been an integral part of the Orange County business and innovation
ecosystem that has helped advance our economy," said Bill Carpou, CEO of OCTANe. "We have enjoyed a
special relationship that has helped cultivate new companies and
drive innovation utilizing our LaunchPad accelerator and deep
expertise from the Allergan community. Together we will continue to
build a robust ecosystem that will advance our business community
and fuel this ecosystem that has made Orange County one of the best hubs for
innovation in the U.S."
"California is one of the most
vibrant biopharmaceutical innovation ecosystems in our nation. We
are home to more than 145,000 people who work for biopharmaceutical
companies responsible for delivering medical innovation that can
improve lives for people around the world," said Diane Harkey, Vice-Chair, California State Board
of Equalization. "It is important that we support the continued
growth and success of this industry, with leading companies like
Allergan, by ensuring a positive business landscape that allows
them to thrive in discovering, developing and providing valuable,
life-enhancing medicines and treatments for millions of
Americans."
The full study is available via the following
link:
http://www.allergan.com/assets/pdf/allergan_california_the_economic_impact_report-sep_2016
About Allergan's California Operations
Allergan
employs more than 2,000 highly skilled workers in the state of
California. The Company's
Irvine campus, which is its
largest location globally, is home to employees supporting
Allergan's commercial, research & development and
administrative functions. Allergan opened its Irvine campus in 1971, and in 2010, the
Company completed a substantial expansion of the campus to add a
new research and development center to enhance its capabilities in
bringing innovative treatments to patients around the world.
Allergan also has employees based in additional location throughout
the state, including Westlake Village,
CA and South San Francisco,
CA.
About Allergan plc
Allergan plc (NYSE: AGN),
headquartered in Dublin, Ireland,
is a bold, global pharmaceutical company and a leader in a new
industry model – Growth Pharma. Allergan is focused on
developing, manufacturing and commercializing branded
pharmaceuticals, devices and biologic products for patients around
the world.
Allergan markets a portfolio of leading brands and best-in-class
products for the central nervous system, eye care, medical
aesthetics and dermatology, gastroenterology, women's health,
urology and anti-infective therapeutic categories.
Allergan is an industry leader in Open Science, the Company's
R&D model, which defines our approach to identifying and
developing game-changing ideas and innovation for better patient
care. This approach has led to Allergan building one of the
broadest development pipelines in the pharmaceutical industry with
70+ mid-to-late stage pipeline programs in development.
Our Company's success is powered by our more than 15,000 global
colleagues' commitment to being Bold for Life. Together, we build
bridges, power ideas, act fast and drive results for our customers
and patients around the world by always doing what it is right.
With commercial operations in approximately 100 countries,
Allergan is committed to working with physicians, healthcare
providers and patients to deliver innovative and meaningful
treatments that help people around the world live healthier lives
everyday.
For more information, visit Allergan's website at
www.Allergan.com.
About Orange County Business Council (OCBC)
Orange
County Business Council is the leading voice of business in
Orange County, California. OCBC
represents and promotes the business community, working with
government and academia, to enhance Orange County's economic development and
prosperity in order to preserve a high quality of life. OCBC serves
member and investor businesses with nearly 250,000 employees and
2,000,000 worldwide. In providing a proactive forum for business
and supporting organizations, OCBC helps assure the financial
growth of America's sixth largest county. For more information,
visit www.ocbc.org.
Allergan plc Forward-Looking Statement
Statements contained in this communication that refer to future
events or other non-historical facts are forward-looking statements
that reflect Allergan's current perspective of existing trends and
information as of the date of this release. Except as expressly
required by law, Allergan disclaims any intent or obligation to
update these forward-looking statements. Actual results may differ
materially from Allergan's current expectations depending upon a
number of factors affecting Allergan's business. These factors
include, among others, the difficulty of predicting the timing or
outcome of FDA approvals or actions, if any; the impact of
competitive products and pricing; market acceptance of and
continued demand for Allergan's products; difficulties or delays in
manufacturing; and other risks and uncertainties detailed in
Allergan's periodic public filings with the Securities and Exchange
Commission, including but not limited to Allergan's Annual Report
on Form 10-K for the year ended December 31,
2015 and Quarterly Report on Form 10-Q for the quarter ended
June 30, 2016 (such periodic public
filings having been filed under the "Actavis plc" name). Except as
expressly required by law, Allergan disclaims any intent or
obligation to update these forward-looking statements.
[1] California annual average
compensation based on Bureau of Labor Statistics data.
CONTACT:
Media:
Mark Marmur
(862) 261-7558
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SOURCE Allergan plc