Almirall to pay up to $650 million for Allergan's US derma brands

3 August 2018

Spanish drugmaker Almirall (ALM: MC) was trading 4% higher by lunchtime on Friday following news that it is to acquire the US medical dermatology portfolio of Ireland-incorporated Allergan (NYSE: AGN).

The deal earns Allergan a $550 million cash consideration plus up to $100 million more in milestone payments, while the five products that the Barcelona-based company is picking up include mature and growth brands for acne and dermatoses.

These products are Aczone (dapsone), Tazorac (tazarotene), Azelex (azelaic acid) and Cordran Tape (fludroxycortide), as well as Seysara (sarecycline), a new tetracycline-derived antibiotic with anti-inflammatory properties for acne with a best-in-class safety profile.

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