Botox maker, Allergan plc AGN, has acquired Anterios, Inc., a clinical stage biopharmaceutical company developing a next generation delivery system and botulinum toxin-based prescription products.
Allergan made an upfront payment of $90 million and could make additional payments related to the achievement of development and commercialization milestones. With this acquisition, Allergan has added Anterios’ proprietary NDS platform delivery technology focused on the local, targeted delivery of neurotoxins through the skin.
Allergan has also gained worldwide rights to ANT-1207, a topical formulation botulinum toxin type A which is being developed for the treatment of hyperhidrosis (excessive sweating), acne, and crow's feet lines.
Our Take
With this acquisition, Allergan is looking to strengthen its position in the worldwide market for neuromodulators. Allergan is currently evaluating Botox, which generated sales of $1.3 billion in the first nine months of 2015, for cosmetic indications like treating forehead lines, masseter hypertrophy and platysma bands and therapeutic indications like osteoarthritis and depression.
A topical formulation would provide patients with a non-invasive option for their dermatologic and aesthetic conditions.
We note that Allergan, which is scheduled to divest its generics business to Teva Pharmaceutical Industries Limited TEVA in the first quarter, will be combining with Pfizer Inc. PFE in the second half of 2016 in a deal representing a total enterprise value of approximately $160 billion.
Allergan is a Zacks Rank #3 (Hold) stock. A better-ranked stock in the health care sector is Amphastar Pharmaceuticals, Inc. AMPH, which holds a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment