Allergan to Buy Tobria in Deal Nearing $1.7 Billion

The transcript discusses Allergan's strategic acquisition of Tobira, highlighting the significant market opportunity in treating fatty liver disease. Allergan's deal structure involves an initial payment with further payments contingent on success, aligning with their strategy of acquiring companies with advanced products. The company has transformed from a generic drug manufacturer to a specialty pharma powerhouse, focusing on innovative R&D. Allergan aims to continue acquiring niche drugs that are further along in the approval process, reducing risk while maintaining a strong R&D focus.

What transformation has the company undergone as mentioned in the text?

What is the significance of R&D in the company's future plans as per the text?