David E. I. Pyott

Pyott was born in 1953 in London, England. His parents were from Scotland; and, as a child, he lived in India, where his father worked in the sugar industry.{{cite web|last1=Nash|first1=Emily|title=Allergan's David Pyott His Coaching And Sharpened Focus Helped Revive Drugmaker|url=http://news.investors.com/management-leaders-in-success/100300-350297-allergans-david-pyott-his-coaching-and-sharpened-focus-helped-revive-drugmaker.htm|publisher=Investor's Business Daily|accessdate=29 October 2014|date=3 October 2000|archiveurl=https://web.archive.org/web/20141029114558/http://news.investors.com/management-leaders-in-success/100300-350297-allergans-david-pyott-his-coaching-and-sharpened-focus-helped-revive-drugmaker.htm |archivedate=29 October 2014}}

Pyott received a Master of Arts degree from the University of Edinburgh in 1975 and a diploma in international and European law from the Europa Institute at the University of Amsterdam. He received a Master of Business Administration from the London Business School and an MS from the University College London in 1980.

Pyott worked for Sandoz Nutrition at various jobs from 1980 until 1990. From 1990 to 1992, Pyott served as the general manager of Sandoz Nutrition in Barcelona, Spain. From 1992 until 1995, he was the president and chief executive officer of Sandoz Nutrition Corporation. In 1995 Pyott transferred from Sandoz and joined Novartis AG, upon the merger of Sandoz and Ciba Geigy where he was head of the Nutrition Division until December 1997.{{cite web|title=David E. I. Pyott|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=249209|publisher=Bloomberg|accessdate=8 June 2015}} {{dead link|date=September 2016}} On January 1, 1998, he joined Allergan, which at that time was a small eye care business. As of 2014, Pyott was one of the longest tenured pharmaceutical CEOs.{{cite web|last1=Hirsch|first1=Abigail|title=Fireside Chat with Allergan CEO, David Pyott|url=http://www.biotech-now.org/events/2014/02/fireside-chat-with-allergan-ceo-david-pyott|publisher=BIOtechNOW|accessdate=29 October 2014|date=2014-02-14|quote=Day two of the 16th Annual BIO CEO & Investor Conference kicked off with a Fireside Chat featuring one of the longest tenured pharma CEOs, David E.I. Pyott, Chairman of the Board & Chief Executive Officer, Allergan.}} Under his leadership Allergan grew from a small eye care business to an international pharmaceutical and medical device company that earns over $5 billion a year.{{cite web|title=A Conversation with Allergan CEO David Pyott|url=http://www.chi.org/blog/a-conversation-with-allergan-ceo-david-pyott/|publisher=California Healthcare Institute|accessdate=29 October 2014}}

In 1998, Pyott joined the board of Allergan and became chairman in 2001, ending his board tenure upon Actavis's acquisition of the company.{{cite web|url=https://www.biopharmadive.com/news/allergan-ceo-pyott-heading-for-the-exits-as-actavis-finalizes-buyout/376405/|title= Allergan CEO Pyott heading for the exits as Actavis finalizes buyout| work = Biopharma Dive| date = March 18, 2015}} He was a member of the board of Avery Dennison from November 1999 until March 2020.{{cite web|url=https://graphics-pro.com/feature/avery-dennison-announces-change-in-board-leadership-structure/|title=Avery Dennison Announces Change in Board Leadership Structure |work=Graphics Pro|date=March 9, 2020}} He served on the board of Edwards Lifesciences Corporation from 2000 to 2014{{cite web|url=https://www.ocbj.com/healthcare/pyott-leaves-edwards-board/|title=Pyott Leaves Edwards Board|work=OCBJ|date=October 3, 2014}} and was a board member of Pacific Life from 2005 until 2007.{{cite web|url=https://ocbj.media.clients.ellingtoncms.com/static/ocbj/supplements/OCs-Wealthiest-2019.pdf|title=OC's Wealthiest|work=OCBJ|date=July 29, 2019}} Pyott was chairman of California Healthcare Institute in 2003 and again in July 2012.{{cite web|last1=Yu|first1=Jane|title=Pyott Named Next Chair of California Healthcare|url=http://www.ocbj.com/news/2012/jul/19/pyott-named-chair-california-healthcare/|publisher=Orange County Business Journal|accessdate=29 October 2014|date=July 19, 2012}} As of June 2024, Pyott serves as a vice president of the Ophthalmology Foundation, having previously served as president.{{cite web|url=https://www.modernretina.com/view/ophthalmology-foundation-elects-new-board-members-and-officers|title=Ophthalmology Foundation elects new board members and officers |work=Modern Retina|date=March 22, 2024}}{{Cite web|url = http://www.icoph.org/about/ico_board_and_advisory_comittee.html|title = International Council of Ophthalmology : About the ICO : ICO Board and Advisory Committee|website = www.icoph.org|access-date = 2016-09-16|archive-date = 8 June 2019|archive-url = https://web.archive.org/web/20190608213822/http://www.icoph.org/about/ico_board_and_advisory_comittee.html|url-status = dead}} He is a member of the board of the Pan American Ophthalmological Foundation,{{Cite web|url = http://www.paao.org/index.php?component=com_articles&id_art=27|title = PAAO – Pan-American Association of Ophthalmology|website = www.paao.org|access-date = 2016-09-16}} and president of the advisory board of the Foundation of the American Academy of Ophthalmology.{{cite web|url=https://www.aao.org/foundation/2023-annual-report|title=Letter From the President|work = American Academy of Ophthalmology|date=March 31, 2023}}{{Cite web|url = http://www.aao.org/foundation/about/overview|title = Overview – American Academy of Ophthalmology|website = www.aao.org|access-date = 2016-09-16}} He also serves on the boards of BioMarin Pharmaceutical,{{Cite web|url = http://www.biomarin.com/about/leadership-team/board-of-directors/|title = Board of Directors : BioMarin|website = www.biomarin.com|access-date = 2016-09-16}} Alnylam Pharmaceuticals,{{Cite web|url = http://www.alnylam.com/who-we-are/board-of-directors/|title = Board of Directors – Alnylam|website = www.alnylam.com|access-date = 2016-09-16|archive-url = https://web.archive.org/web/20160924162256/http://www.alnylam.com/who-we-are/board-of-directors/|archive-date = 2016-09-24|url-status = dead}} Royal Philips,{{Cite web|url = http://www.philips.com/a-w/about/company/our-management/supervisory-board.html|title = Supervisory Board – Our management – Company – About {{!}} Philips|access-date = 2016-09-16}} and Pliant Therapeutics.{{cite web|url=https://pliantrx.com/team/david-pyott/|title=Board of Directors|work=Pliant|date=June 11, 2024}} He is chairman of the governing board of London Business School{{cite web|url=https://www.london.edu/news/new-governing-body-chair-2152|title=New Governing Body Chair for London Business School|work=London.edu|date=February 23, 2023}} and a member of the executive committee{{cite web|url=https://board.caltech.edu/board-members/mr-david-e-i-pyott-cbe|title=Board members|work=CalTech|date=June 11, 2024}} and board of trustees of Caltech.{{Cite web|url = https://www.london.edu/about/people/governance#.V6uaU2WnPFI|title = Governance {{!}} London Business School|language = en-GB|access-date = 2016-09-16}}{{Cite web|url = https://www.caltech.edu/about/news/david-pyott-elected-new-caltech-trustee-85167|title = David Pyott Elected as New Caltech Trustee|language = en-GB|access-date = 2016-01-29}} He is also Hospitaller of the priory in the United States for the Order of St. John and a Commander of the Order, after his promotion by King Charles III in 2023.{{cite web|url=https://www.thegazette.co.uk/notice/4455530|title=Order of St John|work = The Gazette|date=October 4, 2023}}{{cite web|url=https://www.saintjohn.org/about-us/organization-of-the-priory-in-the-usa|title= Priory officers and chapter members|work=SaintJohn.org|date=June 13, 2024}}

On April 21, 2014, Bill Ackman of Pershing Square Capital Management teamed up with pharmaceutical company, Valeant Pharmaceuticals International Inc, to make a run at acquiring Allergan.{{Cite news|url = https://www.reuters.com/article/us-hedgefunds-ackman-idUSBREA3K17N20140422|title = Ackman, Valeant team up to bid for Allergan|date = 2014-04-22|newspaper = Reuters|access-date = 2016-09-16}} Rejecting the unsolicited $46 billion offer, as CEO, Pyott defended his company.{{Cite news|url = https://www.wsj.com/articles/SB10001424052702303851804579557483316178104|title = Allergan Formally Rejects Valeant's $46 Billion Takeover Bid|last = Walker|first = Joseph|date = 2014-05-13|newspaper = Wall Street Journal|issn = 0099-9660|access-date = 2016-09-16}} He believed selling to Valeant would not create long-term value for Allergan's shareholders due to Valeant's historic reliance on cost-cutting. Pyott is known to value aggressive research and development for Allergan, which he said had enabled Allergan to launch several new products and increase annual sales by an average of 11% since 2011. The R&D and marketing spends address consumer needs while providing value for shareholders, as was seen with Botox. The rejection by Allergan, however, did not prevent Valeant and Pershing from pursuing the Botox maker further.{{Cite web|url = https://dealbook.nytimes.com/2014/05/12/allergan-formally-rejects-valeants-merger-bid/?_r=2).|title = In Rejecting Merger Bid, Allergan Focuses on Strategy|last = Gelles|first = David| date=12 May 2014 |access-date = 2016-09-16}}

Originally offering $48.30 per share, Valeant increased the cash portion of its offer to $58.30 per share.{{Cite web|url = http://www.businessinsider.com/valeant-raises-offer-for-allergan-2014-5|title = Valeant Just Cranked Up Its Offer For Botox-Maker Allergan| website=Business Insider |access-date = 2016-09-16}} Pyott and Allergan, standing tall on their beliefs, rejected the offer citing yet again Valeant's unsustainable business model.{{Cite news|url = https://www.wsj.com/articles/allergan-rejects-valeants-latest-takeover-bid-1402403396|title = Allergan Rejects Valeant's Latest Takeover Bid|last = Benoit|first = David|date = 2014-06-10|newspaper = Wall Street Journal|issn = 0099-9660|access-date = 2016-09-16}} As expected, this heated up the war between Pyott, Ackman and Valeant. In order to ward off the hostile takeover attempt, Allergan was courting other offers from companies with more sustainable business models.{{Cite news|url = https://www.wsj.com/articles/actavis-agrees-to-buy-allergan-1416233901|title = Actavis Agrees to Buy Botox Maker Allergan|last = Rockoff|first = Jonathan D.|date = 2014-11-18|newspaper = Wall Street Journal|issn = 0099-9660|access-date = 2016-09-16}} On November 17, 2014, Allergan announced that they had agreed to a deal with Actavis plc for $66 billion, making it one of the world's largest drug makers by sales. Pyott's decision to move forward with Actavis was based on the company's impressive management structure and desire to keep more of Allergan's research and development operation intact. After the acquisition was finalized, Pyott elected not to join the combined company's board, but stayed on as chairman of The Allergan Foundation for a year.{{Cite web|url = http://www.fiercepharma.com/corporate/old-allergan-ceo-pyott-won-t-join-new-allergan-s-board|title = Old Allergan CEO Pyott won't join New Allergan's board {{!}} FiercePharma|website = www.fiercepharma.com|access-date = 2016-09-16}}

In July 2015, Actavis plc announced that the company adopted Allergan plc (NYSE: AGN) as the company name following the approval by Actavis shareholders on June 5.{{Cite web|url = http://www.allergan.com/news/news/thomson-reuters/actavis-plc-is-now-allergan-plc|title = Actavis plc is now Allergan plc|website = Allergan|access-date = 2016-09-16}} The combination of the two companies created one of the world's top 10 pharmaceutical companies by revenue and a leader in a new industry model.

As of March 15, 2015, Valeant's stock crashed more than 50%.{{Cite web|url = https://www.forbes.com/sites/matthewherper/2016/03/17/five-lessons-pharma-should-learn-from-valeants-collapse/#35f2b36a6098|title = Five Lessons Big Pharma Should Learn From Valeant's Collapse|last = Herper|first = Matthew| website=Forbes |access-date = 2016-09-16}} A number of factors contributed to the collapse of Valeant, many of which validate Pyott's approach to business.{{Cite web|url = https://www.forbes.com/sites/matthewherper/2016/03/29/allergans-attacks-on-valeant-are-looking-eerily-prescient/#54c696aa24de|title = Allergan's Attacks On Valeant Are Looking Eerily Prescient|last = Herper|first = Matthew| website=Forbes |access-date = 2016-09-16}} Since the acquisition attempt and the subsequent fallout, Pyott's sentiments regarding Valeant have been vindicated.{{Cite news|url = http://www.ft.com/cms/s/0/0bb37fd2-ef63-11e5-aff5-19b4e253664a.html#axzz4KS2svWWn|title = McKinsey's fingerprints are all over Valeant|last = Gapper|first = John|date = 2016-03-23|newspaper = Financial Times|issn = 0307-1766|access-date = 2016-09-16}} Some have even gone as far to call Pyott a “hero” for saving Allergan and its shareholders and fighting for what he believes in.{{Cite web|url = http://seekingalpha.com/article/3664376-valeant-bill-ackman-scared|title = Valeant – Why Bill Ackman Is Scared|last = Investor|first = Uncommon Profit|date = 2015-11-09|language = en-US|access-date = 2016-09-16}}{{Cite news|url = https://www.wsj.com/articles/valeant-rebuffs-critical-report-that-pummels-stock-1445452695|title = Valeant Slumps Again After Rebutting Critical Report|last1 = Rockoff|first1 = Jonathan D.|date = 2015-10-22|last2 = Farrell|first2 = Maureen|newspaper = Wall Street Journal|issn = 0099-9660|access-date = 2016-09-16}}

Throughout his career, Pyott has collected a number of honors and awards for his philanthropic efforts and his leadership at Allergan.

• Director of the Year Award; recognizing corporate directors for their outstanding dedication to the highest ideals of leadership in the boardroom – 2001.{{Cite web|url = http://fcdoc.org/director-of-the-year-awards/hall-of-fame|title = Hall of Fame {{!}} FCD – Forum for Corporate Directors, Orange County CA|website = fcdoc.org|access-date = 2016-09-16}}
• The honor of Commander of the Most Excellent Order of the British Empire (CBE) by Her Majesty the Queen for his contribution to British business excellence and management skills in the United States – 2006.{{Cite web|url = http://www.aao.org/foundation/donor/pyott|title = David Pyott Donor Spotlight – American Academy of Ophthalmology|website = www.aao.org|access-date = 2016-09-16}}
• University of California Irvine; The Medal, UCI's most prestigious honor – 2010.{{Cite web|url = https://news.uci.edu/press-releases/2010-medal/|title = UCI News – 2010 Medal|access-date = 2016-09-16}}
• Moacyr Gold Medal for services to Brazilian ophthalmology – 2010.
• London Business School; Fellow.
• UCLA Anderson School of Management; Executive Leader of the Year – 2012.{{Cite web|url = http://www.anderson.ucla.edu/media-relations/2012/david-pyott|title = David Pyott {{!}} UCLA Anderson School of Management|website = www.anderson.ucla.edu|access-date = 2016-09-16}}
• U.S. Marine Corps; Semper Fidelis Award – 2013.
• Harvard Business Review; 4th best-performing CEO in the World – 2014.{{Cite journal|url = https://hbr.org/2014/11/the-best-performing-ceos-in-the-world/ar/1|title = The Best-Performing CEOs in the World| journal=Harvard Business Review | date=November 2014 |access-date = 2016-09-16}}
• United Cerebral Palsy Gala; Corporate Impact Award – 2015.{{Cite web|url = http://www.newportbeachindy.com/united-cerebral-palsy-gala-nets-518k/|title = United Cerebral Palsy Gala Nets $518K - Newport Local News|date = 2015-05-22|language = en-US|access-date = 2016-09-16}}
• Chapman University; Citizen of the Year Award – 2015.{{Cite web|url = http://www.ocregister.com/articles/celebration-691380-american-year.html|title = Chapman's 'American Celebration' brings back some of its best moments for the show's 34th edition|last = WINSLOW|first = JONATHAN| date=9 November 2015 |language = en-US|access-date = 2016-09-16}}
• University of Edinburgh; Honorary Degree in Medicine – 2016.{{Cite web|url = http://www.ed.ac.uk/student-administration/graduations/honorary/future-honorary-grads|title = Honorary Graduates in 2016 {{!}} The University of Edinburgh|website = www.ed.ac.uk|access-date = 2016-09-16}}
• California Life Sciences Association; Pantheon Award for Life Sciences Leadership - 2016{{cite web|url=https://www.lifescienceleader.com/doc/night-of-light-california-life-science-association-clsa-0001|title=Night Of Light: California Life Science Association (CLSA)|work=Life Science Leader|date=December 12, 2016}}
• Chapman University; Honorary Doctor of Pharmaceutical Science – 2018.{{Cite web|url = https://www.caltech.edu/about/news/david-pyott-elected-new-caltech-trustee-85167|title = David Pyott Elected as New Caltech Trustee|access-date = 2016-01-21}}

• {{cite web|author=Center for Oral History |title= David Pyott |url=https://oh.sciencehistory.org/oral-histories/pyott-david |website= Science History Institute |date=8 November 2011 }}

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Category:Living people

Category:1953 births

Category:Businesspeople from London

Category:Alumni of the University of Edinburgh

Category:Alumni of London Business School

Category:Alumni of University College London

Category:American health care chief executives