Allergan is buying a biotech company for $2.1 billion
AP Images
In a statement on Wednesday, the companies announced that Allergan will pay $75 per Kythera share; 80% will be in cash, and the remaining 20% in new Allergen shares for Kythera shareholders.
Allergan is a pharmaceutical company and the maker of botox.
By acquiring Kythera, Allergan adds an injection that treats double chin to its portfolio, called Kybella, the companies noted.
Brent Saunders, CEO of Allergan, said in the statement: "KYBELLA™ is an exciting new product that offers patients the first and only clinically-proven, non-surgical treatment for submental fullness (excess fat under the chin). As a leader in aesthetics, we know our customers are looking to offer their patients new options beyond traditional facial aesthetics."
Kybella has been approved by the FDA, with the green light pending in Swtizerland, Australia, and Canada, according to the statement.
The deal is subject to the approval of Kythera shareholders.
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
- 500 times faster than 5g! Japanese companies unveil 6g internet that can stream 5 HD movies at once
- Top tourist places to visit in Ooty in 2024
- Renewable energy accounted for 71 per cent of India's new power generation in FY 24
- ICC issues annual team rankings: India lead both white-ball formats while Aussies take top spot in Tests
- Bajaj Pulsar NS400Z launched at ₹1.85 lakh, becomes cheapest 400cc bike in the country