Almiral bought Allergan's U.S. dermatology portfolio for $650 million

Spain's Almirall bought Allergan's U.S. dermatology portfolio for up to $650 million. This includes $550 million in upfront cash payments and $100 million in potential returns on portfolio payments in 2022.
the deal includes brands Aczone( ampicillin), Tazorac (tazorac) and Azelex for acne, and Cordroxycortide for skin diseases, as well as SeysaraTM, a new, first-class tetrycline-derived antibiotic with anti-inflammatory effects for patients 9 years of age and older. FDA approval of SeysaraTM is expected to be completed in the fourth quarter of this year.
"This is Almirall's transformational agreement," said Peter Guenter, chief executive. It is fully complementary to our existing platform and will immediately increase our revenue. It provides us with medium- and long-term top-line and bottom-line growth opportunities. In addition, it will allow the expansion platform to launch the KX2-391, which is likely to become the new standard for photoretic horn disease".
said in a statement that it expected SeysaraTM sales to peak between $150 million and $200 million. The four products on the market had total sales of $70 million in the first six months of 2018.
Through this acquisition, Almirall consolidated and consolidated its business in the United States, the world's largest market, and expanded its range of dermatology products, representing the overall transformational steps of Almirall US and Almirall," the company added. " (Chinese Medicine 123 Network)