Allergan Inc. Chief Executive David Pyott has resigned as a director of Edwards Lifesciences Corp.
Irvine-based heart valve maker Edwards said the change, effective today, is “in order [for Pyott] to devote more time to his role as chairman and chief executive officer of Allergan.”
Pyott joined Edwards’ board in 2000, when the company began trading publicly after spinning off from Baxter International Inc.
Irvine-based drug maker Allergan is fighting a hostile takeover attempt by Canada-based Valeant Pharmaceuticals International Inc. and Bill Ackman’s Pershing Square Capital Management LP.
Allergan is the largest publicly traded company with headquarters in Orange County. It has about $54.5 billion in market capitalization.
Valeant’s standing bid for Allergan is worth about $53.4 billion.