Sector News

Allergan buys Kythera and its double-chin drug for $2.1bn

June 17, 2015
Life sciences
Dublin, Ireland-based Allergan is snapping up US group Kythera Biopharmaceuticals for a cool $2.1 billion, strengthening the firm’s foothold on the facial aesthetics scene.
 
The move gives Allergan access to Kythera’s lead product Kybella (deoxycholic acid) injection, the first and only approved non-surgical treatment for double chin (or severe submental fullness), which gained US clearance in April.
 
The acquisition will also bring setipiprant (KYTH-105) – a novel compound for the prevention of male pattern baldness – into Allergan’s pipeline, as well as a batch of other early-stage development candidates.
 
Under the deal, which remains subject to customary closing conditions, the Irish drugmaker will pay $75 per Kythera share in a mix of cash and stock, valuing the transaction at around $2.1 billion.
 
By Selina McKee
 
Source: Pharma Times

comments closed

Related News

September 25, 2022

Rise of the machines: Novo Nordisk pledges $200M to create first quantum computer for life sciences

Life sciences

Big Pharma has long seen the potential for AI and machine learning to accelerate drug development. But Novo Nordisk is going a step further by channeling $200 million toward the creation of a computer that will outrun anything in existence.

September 25, 2022

Mount Sinai AI uncovers new brain analysis method to predict dementia, Alzheimer’s disease

Life sciences

Current methods for diagnosing Alzheimer’s disease rely on a complex combination of self- and caregiver-reported symptoms, a physical examination and either a PET scan or a spinal tap to look for evidence of amyloid plaque build-ups in the brain. But a new artificial intelligence-based method may make the diagnostic process a much more objective one.

September 25, 2022

New AstraZeneca-backed report finds big money behind diverse owners and entrepreneurs in Europe

Life sciences

There is lots of talk about diversity and inclusion in business, including in pharma and medtech. A new report by the Open Political Economy Network (OPEN), a think tank focusing on migration and diversity, released its “Minority Businesses Matter: Europe” report highlighting the successes and challenges of ethnic minority-owned businesses in Europe.