Allergan has signed a definitive agreement to divest five products under its US Medical Dermatology division to Spanish pharmaceutical company Almirall for a cash consideration of $550m.

The products include both mature and growth brands, Aczone (dapsone), Tazorac (tazarotene), Azelex (azelaic acid) and Cordran Tape (fludroxycortide).

Together, the four products registered net sales of $70m during the first half of this year.

In addition, Almirall is purchasing a new chemical entity (NCE) called Seysara (sarecycline), which is expected to get the US Food and Drug Administration (FDA) approval in the fourth quarter of this year.

Seysara is an oral, tetracycline-derived antibiotic that is said to possess anti-inflammatory properties. It is being developed to treat moderate-to-severe acne vulgaris in patients aged nine years and above.

“This is a transformational deal for Almirall. It is perfectly complementary to our existing platform and will be immediately accretive to our earnings.”

Almirall expects the deal to consolidate and bolster its position in the US market, while expanding its dermatology range. The transaction is anticipated to offer medium-to-long term growth opportunities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company estimates Seysara will generate $150m to $200m during its peak sales.

Commenting on the deal, Almirall CEO Peter Guenter said: “This is a transformational deal for Almirall. It is perfectly complementary to our existing platform and will be immediately accretive to our earnings. It offers us medium-to-long term top and bottom line growth opportunities.

“Moreover, it will allow for an expanded platform to launch KX2-391, which has the potential to become a new standard of care in actinic keratosis.”

Almirall added that the transaction will further strengthen its research and development and in-licensing engine, thereby facilitating investments that will boost innovation and competitiveness in the future.

Subject to regulatory clearances, the acquisition is expected to be completed in the fourth quarter of this year.