Allergan has announced plans to acquire SkinMedica’s topical aesthetics skincare business for $350 million.
Allergan states that it will operate SkinMedica as a separate global business. Terms of the agreement indicate Allergan will pay SkinMedica an additional $25 million contingent upon the acquired products achieving targeted sales. The acquisition does not include the SkinMedica Colorescience aesthetic makeup line.
“The acquisition of SkinMedica will nicely complement our existing facial aesthetics business … and will enable us to take a leadership position in the growing ‘physician dispensed’ topical aesthetics skincare category,” David E.I. Pyott, Allergan board chairman, president and CEO, said in a company statement. “Most importantly, the acquisition will allow us to expand our product portfolio to better meet the needs of our existing base of physician customers and their patients.”
The acquisition is expected to close this year. DT