Almirall Acquires Allergan Dermatology Products for $550 MillionBy
Almirall (ALM), a Barcelona-based provider of medicines and medical devices, has closed a deal to acquire a portfolio of five products from Allergan’s US Medical Dermatology unit for approximately $550 million. The deal also involves a possible earn-out of up to $100 million, payable in the first quarter of 2022, depending on business performance.
Almirall says it will focus on its medical dermatology franchise, which will represent 45% of net sales (proforma) with the transaction, and will look at strategic options for its aesthetic business. The deal does not include a promotional salesforce or manufacturing.
The acquired portfolio includes a new chemical entity (Seysara [sarecycline]) and four key mature and growth brands: Cordran Tape (fludroxycortide), a dermatitis drug, and acne drugs Aczone (dapsone), Tazorac (tazarotene), and Azelex (azelaic acid). These four products, already marketed, generated total US sales of $70 million in the first six months of 2018.
Almirall projects peak sales of Seysara (sarecycline), an acne antibiotic, of $150 million to $200 million. The drug is a tetracycline-derived antibiotic with anti-inflammatory properties for treating moderate-to-severe acne vulgaris, in patients nine years of age and older. The FDA approval of Seysara (sarecycline) is anticipated in the fourth quarter of 2018, according to the company.