NEW YORK (TheStreet) -- Shares of Allergan (AGN_) are up 0.16% to $166.33 in pre-market trade as the health care company looks to make changes aimed at increasing profit in the coming months as well as forecasts for future years to convince shareholders that the company is better as a standalone investment, Bloomberg reports.
The Botox maker, being pursued by Valeant Pharmaceuticals International (VRX_) and Bill Ackman's hedge fund, will shelve unpromising pipeline drugs and overhaul management incentives, sources said.
A broad restructuring plan set to be outlined during Allergan's earnings announcement later this month will also involve company-wide cost cuts, including some legacy expenses, sources said. Management compensation will be more closely tied to achieving higher forecasts, Bloomberg noted.