Another acquisition by Allergan; will expand CNS R&D pipeline

23 November 2016

Ireland-headquartered Allergan (NYSE: AGN) has continued expanding its business through strategic takeovers, this time to build on its commitment to Alzheimer’s disease, making this the ninth such deal this year.

Allergan announced this morning that it has completed the acquisition of Chase Pharmaceuticals, a California, USA-based clinical-stage biopharmaceutical company focused on the development of improved treatments for neurodegenerative disorders including Alzheimer's disease (AD).

Allergan acquired Chase for an upfront payment of $125 million (subject to certain adjustments) and additional potential regulatory and sales milestone payments related to Chase's lead compound, CPC-201, and certain backup compounds. The deal allows for potential regulatory and commercial milestones of up to $875 million to the shareholders of Chase, the US firm said in its filing. India’s Cipla is one of the shareholders of Chase, in which it acquired a 14.6% stake for an investment of $1.5 million in 2014.

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