Allergan board calls out 'strong connection' between social contract, governance
The Board of Directors of Allergan issued a statement on the company's "Social Contract with Patients," in which it stated in part: "The Board of Directors of Allergan is proud to support our Company's pursuit of medical innovation and commitment to patients. The Board has been supportive of this action from the beginning, and we are issuing this statement to underscore the strong connection between the Social Contract and the role it plays in the Corporate Governance of the Company...We believe it is our responsibility to price treatments in a way that makes them accessible and affordable to patients, while still encouraging future investment by providing return to our shareholders. We have endorsed the four principles of Allergan's Social Contract with Patients: 1: Invest & Innovate; 2: Access & Price; 3: Quality & Safety; 4: Education. Adhering to the principles of our Social Contract will be key to the Company's success, as it will enable us to fulfill our responsibilities to patients which, in turn, makes our business stronger and fuels our ability to generate return for our shareholders. Like all successful businesses, ours is built on trust from and with our customers and their patients. This Social Contract is a key component of that trust and it is imperative that our leaders focus on its tenets as we make business decisions that ultimately improve the health and well-being of patients."