If Allergan CEO Brenton Saunders could turn back time, would he still buy a luxury Palm Beach Gardens home last year, only to sell it for less than a year later for a loss?
Saunders, who works for the company that manufacturers drugs like Botox, Restasis, CoolSculpting, Juvederm and Lo Loestrin Fe, sold the waterfront six-bedroom, 7,522-square-foot house at 14630 Watermark Way for nearly $6.5 million. He and his wife, Amy, paid $6.6 million for the home nearly a year ago.
Property records show the couple just sold the house to Jared and Loretto Roth. It was built in 2016.
In June, biopharmaceutical group AbbVie Inc. agreed to acquire Allergan in a cash and stock deal that would value the Botox maker at about $63 billion, according to the company’s second quarter earnings. Saunders will join the board when the deal closes in early 2020 and AbbVie’s current chairman and CEO will stay in that position.
Saunders is currently president, chairman and CEO of Allergan, reportedly earning $32.8 million in 2017, Bloomberg reported. He previously led Forest Laboratories and Bausch + Lomb as CEO.
The Palm Beach Gardens property features 157 feet of frontage on the Intracoastal Waterway and is in the Harbor Place community, next to the Bears Club in Palm Beach Gardens.
Last year, PGA pro Rory McIlroy sold his waterfront mansion nearby at 2380 Old Gate Lane to a trust for $11.15 million.