Almirall to acquire US dermatology firm for $305 million upfront
Spain’s largest drugmaker, Almirall (ALM: MC), says it has reached a definitive agreement to acquire Aqua Pharmaceuticals, a privately-held leading US-based prescription dermatology company.
Under the terms of the agreement, Almirall will pay an upfront $305 million in cash. There will also be an additional upfront payment of $22.6 million related to amortization of certain long term tax assets. Additional potential payments of up to $75 million may be due if certain regulatory and commercial milestones are met during 2014 and 2015, the Spanish firm said.
Aqua will drive Almirall’s key dermatology platform
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