Tepper says Appaloosa previously controlled a company that did Juvederm and breast implants, which they sold to Allergan.
“particularly Allergan, which we actually, we actually had owned a large amount of a company. We controlled a company before that we sold to Allergan that did Juvederm and and breast implants.”
Tepper argues Allergan's aesthetics business being taken down with regulated pharma was crazy since aesthetics isn't affected by regulation.
“It's not affected by, regulation, that part of the business, the aesthetics business. So we thought that part of the business getting, you know, taken down with everything else was just absolutely crazy.”
Tepper says Allergan multiples were too low partly because the stock got tied to Valeant, which he calls nonsense.
“the multiples were too low, and they put for some reason because it was tied in somehow with the valiant, you know, the nonsense with valiant.”
Tepper says if Allergan went to 500 he wouldn't own a share, but he's not suggesting it will hit 500.
“If it went to 500, I wouldn't own a share. So, not suggesting it's going to 500,”