Allergan blueprints a big Texas expansion amid battle with spendthrift Valeant

Allergan ($AGN) has signed a lease for big chunk of office space in Texas, according to the Austin Business Journal, keeping quiet on its plans as it slashes jobs around the globe. The California drugmaker is leasing a 90,000-square-foot space in Austin, the Journal reports, and Allergan isn't commenting on just what for. Meanwhile, the company is still in the midst of a public and protracted fight with Valeant Pharmaceuticals ($VRX), which has made a series of hostile takeover bids. In an effort to cut costs--and perhaps assuage shareholders who may be swayed by Valeant's promise of a leaner operation--Allergan is also cutting about 13% of its workforce, amounting to about 1,500 jobs. News

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