Allergan plans to develop novel treatments for non-alcoholic steatohepatitis (NASH) and other liver diseases through the acquisition of Akarna Therapeutics. The acquisition has been completed for a purchase consideration of $50m.

Pursuant to the acquisition, Allergan will gain all rights to AKN-083 and a portfolio of additional development stage FXR compounds. Akarna Therapeutics will receive additional clinical, regulatory, developmental and commercialisation milestones of its drug candidate.

Walvax Biotechnology, a bio-pharmaceutical vaccination product provider, has announced to sell 85% shares in Shandong Shijie Biological Technology.

Walvax Biotechnology expects to receive gross proceeds of up to $104.5m from the transaction.