Allergan to Acquire SkinMedica

Allergan, Inc. is set to acquire SkinMedica's topical aesthetics skin care business, in a deal estimated at approximately $350 million up-front. Allergan will also pay SkinMedica an additional $25 million contingent upon the acquired products achieving a specific level of net sales. The acquisition is expected to close later this year and does not include the SkinMedica Colorescience aesthetic make-up line. SkinMedica will be spinning out the Colorescience business in connection with the closing of the acquisition. Allergan plans to operate SkinMedica as a separate global business and will leverage a number of Allergan's existing preferred customer programs with the SkinMedica product line to provide additional benefits to physicians and patients. Following the completion of the acquisition, a larger and combined SkinMedica sales force will assume responsibility for the line of products including the revolutionary SkinMedica TNS product line, Allergan's VIVITÉ® product line and LATISSE®, the one and only FDA approved product to treat inadequate or not enough eye lashes.