New agreement enhances Almirall's portfolio in the USA

21 September 2018

Spain’s largest drugmaker Almirall (ALM: MC) has entered a deal that could potentially as much as $665 million to acquire a portfolio of dermatologic products for the US market.

Almirall today announced the finalization of their acquisition of products from Allergan's (NYSE: AGN) Medical Dermatology unit in the USA: Aczone (dapsone), Tazorac (tazarotene), Azelex (azelaic acid) and Cordran Tape (flurandrenolide). In addition, sarecycline, a New Chemical Entity (NCE) currently under Food and Drug Administration review for approval in the treatment of acne is part of the transaction.

The transaction closed for a cash consideration of $550 million. This agreement also contemplates a possible earn-out, up to $100 million and payable in first-quarter 2022, depending on business performance.

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