Ireland-incorporated Allergan (NYSE: AGN) is satisfying its acquisition addiction with yet another takeover transaction, thus notching up its tenth such deal so far this year, as well as a few licensing agreements.
Allergan and USA-based Acelity today announced that they have entered into a definitive agreement under which Allergan has agreed to acquire the latter’s regenerative medicine company LifeCell for $2.9 billion in cash, subject to customary adjustments.
The acquisition combines LifeCell's novel, regenerative medicines business, including its high-quality and durable portfolio of dermal matrix products with Allergan's leading portfolio of medical aesthetics, breast implants and tissue expanders. Together, these product lines will create a world class aesthetic and regenerative medicine business providing significant opportunity to enhance the overall product offering for plastic and general surgery customers globally. Allergan anticipates the LifeCell assets will generate around $450 million in 2016 revenue, growing at a mid-single digit rate, approximately 75% gross margin and about40% operating margin in 2016.
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