Almirall Finalizes Acquisition of Allergan US Medical Dermatology Portfolio

Almirall, S.A. finalized its acquisition of products from Allergan's Medical Dermatology unit in the US: Aczone (dapsone), Tazorac (tazarotene), Azelex (azelaic acid), and Cordran Tape (flurandrenolide). In addition, sarecycline, a New Chemical Entity (NCE) currently under FDA review for approval in the treatment of acne is part of the transaction. These portfolio additions further enhance Almirall's presence in the U.S. dermatology space through their subsidiary Aqua Pharmaceuticals, a respected manufacturer of established therapies for a range of medical dermatology indications including acne, eczema, dermatitis, actinic keratoses and bacterial infections.

"With this acquisition, Almirall is cementing its commitment to be a leader in medical dermatology, providing proven brands and innovative new therapies across a broad array of indications as a partner to our customers and patients," said Ron Menezes, President and General Manager, Aqua Pharmaceuticals. "The mature products complement our existing portfolio while sarecycline could soon become one of the promising new oral therapies, which exemplifies our renewed focus on innovation." Should regulatory approvals be granted, Aqua will launch and market the approved product, which has been studied in patients with acne.

Aqua Pharmaceutical's focus is on offering patients a variety of treatment options for their skin health. To that end they are exploring new areas in dermatology, including new molecules for the treatment of actinic keratosis.  

The transaction closed for a cash consideration of $550MM. This agreement also contemplates a possible earn-out, up to $100 MM and payable in Q1/2022, depending on business performance.