Allergan plc, which is known for its Botox product, said June 17 it is acquiring Kythera Biopharmaceuticals Inc. in a cash and stock deal valued at approximately $2.1 billion. Dublin-headquartered Allergan will pay 80 percent in cash and 20 percent in new shares to be issued to Kythera shareholders. Allergan anticipates the deal to close in the third quarter. Kythera’s lead product is Kybella, which is a non-surgical treatment for the reduction of double chin. Kybella was approved by the U.S. Food and Drug Administration on April 29. Kybella is also being developed for potential introduction into international markets. Besides Botox, Allergan’s facial aesthetics product roster includes Juvederm XC, Juvederm Voluma XC, Latisse and SkinMedica. Allergan was acquired by Actavis in a $66 billion deal that was completed in March of this year. Earlier this week, Actavis announced that the company has adopted Allergan as its new global name.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
