Healthcare Industry News: S.A.
News Release - September 21, 2018
Almirall acquires Allergan U.S. medical dermatology portfolio*
Portfolio includes four available therapies for acne and dermatoseS.A.d an investigational compound currently under FDA reviewAgreement enhanceS.A.mirall's portfolio in the U.S. and emphasizes long-term commitment to the dermatology community
EXTON, Pa., Sept. 21, 2018 -- (Healthcare Sales & Marketing Network) -- Almirall, S.A. (ALM) announced today the finalization of their acquisition of products from Allergan's Medical Dermatology unit in the United S.A.es: 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 S.A.e through their subsidiary Aqua Pharmaceuticals, a respected manufacturer of eS.A.lished therapies for a range of medical dermatology indications including acne, eczema, dermatitis, actinic keratoseS.A.d bacterial infections.
"With thiS.A.quisition, Almirall is cementing its commitment to be a leader in medical dermatology, providing proven brandS.A.d innovative new therapieS.A.rosS.A.broad array of indicationS.A. a partner to our customerS.A.d 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.A.reement also contemplateS.A.possible earn-out, up to $100 MM and payable in Q1/2022, depending on business performance.
About Almirall
Almirall iS.A.leading skin-health focused global pharmaceutical company that partners with healthcare professionals, applying science to provide medical solutions to patientS.A.d future generations. Our effortS.A.e focused on fighting against skin-health diS.A.eS.A.d helping people feel and look their best. We support healthcare professionals, bringing our innovative solutions where they are needed.
The company, founded 75 yearS.A.o and with headquarters in Barcelona, is listed on the S.A.ish Stock Exchange (ticker: ALM). Almirall has become a key element of value creation to society according to its commitment with its major S.A.eholderS.A.d its decision to help others, to underS.A.d their challengeS.A.d to use science to provide them with solutions for real life. Total revenues in 2017 were 755.8 million euros. It has more than 1,830 employees.
Aqua Pharmaceuticals waS.A.quired by Almirall in 2013.
Disclaimer
This document includes only summary information and does not intend to be comprehensive. Facts, figureS.A.d opinions contained herein, other than historical, are "forward-looking S.A.ements". These S.A.ementS.A.e based on currently available information and on best estimateS.A.d assumptions believed to be reasonable by the Company. These S.A.ements involve riskS.A.d uncertainties beyond the Company's control. Therefore, actual results may differ materially from those S.A.ed by such forward-looking S.A.ements. The Company expressly disclaimS.A.y obligation to review or update any forward-looking S.A.ements, targets or estimates contained in this document to reflect any change in the assumptions, events or circumS.A.ces on which such forward-looking S.A.ementS.A.e based unless so required by applicable law.
* Excludes Rhofade.
Source: Almirall
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