SkinMedica, Inc Acquired by Allergan
Allergan Inc, the company that ten years ago put Botox on the market (and has been enjoying it’s success) announced that they will be purchasing SkinMedica, Inc, and will acquire the company’s line of topical aesthetic skin care treatments for $350 million.
“Allergan is widely recognized for our leadership in the facial aesthetics area,” said David E.I. Pyott, Chairman of the Board, President and Chief Executive Officer, Allergan. “The acquisition of SkinMedica will nicely complement our existing facial aesthetics business, which includes products such as BOTOX® Cosmetic, JUVEDERM®, and LATISSE®, and will enable us to take a leadership position in the growing ‘physician dispensed’ topical aesthetics skin care category. Most importantly, the acquisition will allow us to expand our product portfolio to better meet the needs of our existing base of physician customers and their patients.”
SkinMedica touts a variety of “physician-dispensed” prescription and non-prescription aesthetic skin care products. Alongside the $350 million Allergan will pay SkinMedica for the business, the company will pay an additional $25 million if the newly acquired products meet a certain level of sales. These products include TNS Essential Serum®, TNS Recovery Complex® and VANIQA® (eflornithine hydrochloride) Cream.
The deal does not, however, include SkinMedica’s Colorescience brand of aesthetic make-up. The company plans to spin the line out in conjunction with this acquisition. The rest of the line will still be available to customers; this isn’t a loss – It’s a gain. Members of both the Allergan team and the SkinMedica team will be working together to bring the customer the best product and service possible.
- Photo Credit: SkinMedia.com