Valeant says plans to "improve" offer for Allergan

Tue May 13, 2014 8:13am EDT
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May 13 (Reuters) - Valeant Pharmaceuticals International Inc said it planned to "improve" its $47 billion takeover offer for drugmaker Allergan Inc, a day after the U.S. company rejected the bid.

Canada's Valeant said it remained committed to getting the deal done but would remain "financially disciplined."

Allergan, which makes the popular anti-wrinkle treatment Botox, said on Monday that Valeant's business model was unsustainable and the offer was too risky because of uncertainty about the company's long-term growth. (Reporting by Esha Dey in Bangalore; Editing by Saumyadeb Chakrabarty)