Allergan, Inc.Announces Completion of SkinMedica, Inc. Acquisition

Wed Dec 19, 2012 10:48am EST

* Reuters is not responsible for the content in this press release.

IRVINE, Calif.--(Business Wire)--
Allergan, Inc. (NYSE:AGN) today announced that it has completed the acquisition
of SkinMedica, Inc. Under the terms of the agreement, which was first announced
on November 16, 2012, Allergan paid approximately $350 million (subject to
certain adjustments) for the business, which includes a variety of "physician
dispensed" non-prescription aesthetic skin care products and prescription
products. In connection with the closing of the transaction, SkinMedica spun out
its Colorescience aesthetic make-up business. Allergan plans to operate
SkinMedica as a separate global business based out of SkinMedica`s current
headquarters in Carlsbad, CA. 

"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 Chief Executive Officer, Allergan. "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." 

About Allergan, Inc.

Allergan is a multi-specialty health care company established more than 60 years
ago with a commitment to uncover the best of science and develop and deliver
innovative and meaningful treatments to help people reach their life`s
potential. Today, we have approximately 10,500 highly dedicated and talented
employees, global marketing and sales capabilities with a presence in more than
100 countries, a rich and ever-evolving portfolio of pharmaceuticals, biologics,
medical devices and over-the-counter consumer products, and state-of-the-art
resources in R&D, manufacturing and safety surveillance that help millions of
patients see more clearly, move more freely and express themselves more fully.
From our beginnings as an eye care company to our focus today on several medical
specialties, including eye care, neurosciences, medical aesthetics, medical
dermatology, breast aesthetics, obesity intervention and urologics, Allergan is
proud to celebrate more than 60 years of medical advances and proud to support
the patients and physicians who rely on our products and the employees and
communities in which we live and work. For more information regarding Allergan,
go to: 

Allergan Forward-Looking Statements

This press release contains "forward-looking statements," including, but not
limited to, the statements by Mr. Pyott and other statements regarding the
expected benefits of the transaction and other statements regarding Allergan`s
planned operation of SkinMedica. These statements are based on current
expectations of future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could vary materially
from Allergan's expectations and projections. Risks and uncertainties include,
among other things, general industry and market conditions; technological
advances and patents attained by competitors; challenges inherent in the
research and development and regulatory processes; challenges related to product
marketing, such as the unpredictability of market acceptance for new products
and/or the acceptance of new indications for such products; inconsistency of
treatment results among patients; general economic conditions; and governmental
laws and regulations affecting domestic and foreign operations. Allergan
expressly disclaims any intent or obligation to update these forward-looking
statements except as required by law. Additional information concerning the
above referenced risk factors and other risk factors can be found in Allergan's
public periodic filings with the Securities and Exchange Commission, including
the discussion under the heading "Risk Factors" in Allergan's 2011 Annual Report
on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Additional
information about Allergan is available at or you can contact
the Allergan Investor Relations Department by calling 714-246-4636.

Allergan Contacts:
Bonnie Jacobs, (856) 912-9965 (media)
Cathy Taylor (949) 293-4453 (media)
Jim Hindman (714) 246-4636 (investors)
Joann Bradley (714) 246-4766 (investors)
David Nakasone (714) 246-6376 (investors) 

Copyright Business Wire 2012
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