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DAVID PYOTT
After joining the ranks of a company that many thought was slow, top-heavy and barely worth watching, David Pyott has opened some eyes. Pyott, president and CEO of Irvine-based Allergan Inc., closed out 1998 with an impressive debut - especially on Wall Street, where his moves contributed to a roughly 80% run-up in the price of the company's shares. It was an impressive climb, following a lackluster three-year stretch.
Pyott signed on with Allergan in January, replacing veteran CEO William Shepard. Previously, Pyott was in charge of Swiss Novartis' Nutrition Division. Pyott was raised in Scotland and India, is fluent in English, Spanish, German and French and has worked in Malaysia, Singapore, Austria and Spain. He was educated in Amsterdam, Edinburgh and London.
That personal and business background gives Pyott extensive international experience - a big plus, given the scale of Allergan's overseas operations. Thirty percent of sales come from Europe and 14% from Asia.
Under Pyott, Allergan began shifting its mix more to higher-margin products, including eyecare pharmaceuticals and a new drug, Botox. And both revenue and operating profits went up. For the first nine months of 1998, sales rose 11 % from the...