Allergan to acquire Acelity’s LifeCell for US$2.9 bn
Global pharmaceutical company Allergan Plc has announced its plans to acquire Acelity LP Inc.’s regenerative medicine unit Life Cell in a US$2.9 billion deal that will expand Allergan’s portfolio of medical aesthetics, breast implants and tissue expanders, the company said.
LifeCell makes regenerative tissue products that are commonly used in breast reconstruction procedures and complex hernia surgeries to provide soft tissue support.
Allergan Chief Executive Brent Saunders has ‘s deal to sell itself last ydescribed the company’s acquisition strategy as being one of “stepping stones.” Allerganear to Pfizer Inc. for US$160 billion was dropped due to a change in tax law.
Allergan, best known for its Botox product, said LifeCell’s 2016 sales are expected to be US$450 million and grow at a mid-single digit rate. It expects the deal to close in the first half of 2017.
Dublin-based Allergan, which was created through the combination of Actavis and Allergan, earlier this year sold its generics business to Teva Pharmaceutical Industries, freeing up cash for deals.
Allergan has agreed to 12 deals this year, including the US$1.7 billion acquisition of Tobira Therapeutics Inc., maker of an experimental treatment for fatty liver disease, and US$639 million acquiring Vitae, maker of an experimental drug to treat psoriasis.
Category: Features, Pharmaceuticals
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