Almirall to acquire Allergan dermatology portfolio

Spain-based pharmaceutical company Almirall will acquire Allergan’s dermatology portfolio.

The company announced on Friday, August 3 that it will purchase US-based Allergan’s portfolio of “mature and growth” brands for acne and dermatoses, in a move that Almirall said would significantly reinforce its position in the world’s largest dermatology market, the US.

The acquisition will include Allergan’s new chemical entity Seysara (sarecycline), used for the oral treatment of acne.

Almirall said the acquisition is worth $550 million.

Under the agreement, Almirall will also acquire skin treatments Aczone (dapsone), Tazorac (tazarotene), Azelex (azelaic acid) and Cordran Tape (fludroxycortide).

According to Almirall, these four products generated US net sales of $70 million in the first half of 2018.

Peter Guenter, CEO of Almirall, described the deal as “transformational” for the company.

He added that Almirall will acquire a well-balanced portfolio.

“It is perfectly complementary to our existing platform and will be immediately accretive to our earnings,” said Guenter.

“It offers us medium to long term top and bottom line growth opportunities,” he explained.

In addition, Guenter said that the move will give Almirall a platform to launch its skin treatment KX2-391.

Almirall said it expects sales to accelerate when Seysara is launched after it receives approval from the US Food and Drug Administration.

Bhushan Hardas, research and development vice-president and chief scientific officer at Almirall, added: “Seysara is the first oral antibiotic in 40 years, specifically designed for dermatology, that has demonstrated to be an effective, safe and well-tolerated treatment option for physicians treating patients with moderate to severe acne.”

The transaction is expected to be completed in the fourth quarter of 2018.

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