Under the terms of the agreement, which were announced in November, Allergan paid Carlsbad, Calif-based SkinMedica approximately $350 million for the business.
SkinMedica’s line of aesthetic skin care products includes the TNS Essential Serum, TNS Recovery Complex and its prescription product VANIQA (eflornithine hydrochloride) Cream 13.9%.
“The acquisition of SkinMedica reinforces our commitment to fueling growth through a combination of internal investment in research and development and leveraging external opportunities,” said David E.I. Pyott, chairman of the board, president and CEO of Allergan, in the release. “Today marks a significant achievement for Allergan, as our acquisition of SkinMedica will enable us to assume a leadership position in the ‘physician dispensed’ topical aesthetics category and will further strengthen our leadership position in the facial aesthetics market by expanding our product portfolio to better meet the needs of physicians and their patients.”
The acquisition does not include the SkinMedica Colorescience aesthetic make-up line.
Allergan is headquartered in Irvine, Calif.
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