Spanish pharma company Almirall has completed its $550 million acquisition of five skin medications from Allergan’s Medical Dermatology unit in the US.
The skin medications acquired by Almirall, as part of a deal signed in August 2018, are acne and dermatoses brands Aczone (dapsone), Tazorac (tazarotene), Cordran Tape (flurandrenolide), Azelex (azelaic acid). Along with them, the Spanish pharma company has also acquired sarecycline, a new skin medication which is being reviewed by the US FDA for acne treatment.
The four acne and dermatoses brands, which are already marketed, had earned $70 million for Allergan in H1 2018.
As per the agreement between Almirall and Allergan, the former will pay the latter a potential earn-out, up to $100 million based on commercial performance.
The five skin medications are expected to boost the footprint of the Spanish pharma company in the US dermatology market through its subsidiary Aqua Pharmaceuticals, which manufactures skin medications for acne, dermatitis, eczema, actinic keratoses and bacterial infections among others.
Commenting on the acquisition of the skin medications, Ron Menezes – President and General Manager, Aqua Pharmaceuticals, said: “With this acquisition, Almirall is cementing its commitment to be a leader in medical dermatology, providing proven brands and innovative new therapies across a broad array of indications as a partner to our customers and patients.
“The mature products complement our existing portfolio while sarecycline could soon become one of the promising new oral therapies, which exemplifies our renewed focus on innovation.”
Aqua Pharmaceuticals plans to launch and market sarecycline for acne treatment subject to receipt of regulatory approvals.
According to Almirall, Aqua Pharmaceutical focuses on giving patients a range of skin medications apart from exploring new areas in dermatology, such as new molecules for the treatment of actinic keratosis.
On the other hand, for the Irish pharma company Allergan, the sale of the skin medications in the US follows its agreement this month to acquire US aesthetic company Bonti in a deal worth over $195 million. Our report on the Allergan acquisition of Bonti can be read here.