* Deal will give Allergan prescription, non-prescription
* SkinMedica line includes Vaniqa facial-hair drug for women
* Allergan shares rise 1 percent
Nov 16 Allergan Inc, maker of
anti-wrinkle drug Botox, on Friday said it would pay $350
million to acquire privately held SkinMedica Inc and its array
of topical products to improve the appearance of the skin.
Allergan, whose facial aesthetics business includes the
widely used Juvederm facial filler, said it intends to complete
the purchase this year and operate SkinMedica as a separate
Allergan said it would also pay SkinMedica an additional $25
million contingent on the acquired products hitting sales
targets. The deal does not include SkinMedica's Colorescience
aesthetic make-up line, Allergan said.
SkinMedica sells both prescription and non-prescription
products. Its primary prescription product is Vaniqa cream, the
only U.S. approved prescription product for reduction of
unwanted facial hair in women.
Allergan shares rose 1 percent to $88.84 in morning trading
on the New York Stock Exhhange, amid slight declines for the
broad stock market.