UPDATE 1-Allergan to cut 1,500 jobs as it fights Valeant bid
July 21, 2014 at 09:02 AM EDT
July 21 (Reuters) - Allergan Inc, which is fighting off a hostile bid from Valeant Pharmaceuticals International Inc , on Monday announced 1,500 jobs cuts as part of a $475 million restructuring meant to boost profits over the next six years.