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Kythera announces that it entered into a definitive agreement to be acquired by Allergan for $2.1 billion.
Kythera announced on June 17, 2015 that it entered into a definitive agreement to be acquired by Allergan, maker of Botox, for $2.1 billion in cash and equity. The acquisition gives Allergan’s pipeline a facial aesthetics boost with the recently FDA-approved Kybella (deoxycholic acid) injection for contouring moderate to severe submental fullness, commonly known as double chin. Allergan’s pipeline will also be bolstered by Kythera’s development product setipiprant (KYTH-105), which is designed for male pattern baldness and other early-stage candidates.
“As a leader in aesthetics, we know our customers are looking to offer their patients new options beyond traditional facial aesthetics. Kybella will do that while complementing our market leading facial aesthetics portfolio, which includes Botox, Juvéderm XC, Juvederm Voluma XC, Latisse, and Skinmedica,” said Brent Saunders, CEO and president of Allergan, in a press release.
In an article from the Wall Street Journal, Saunders is quoted as saying that Kybella "will do better in our hands" and that it is "even more true internationally.” At the time of the acquisition agreement, Kythera had already submitted Kybella for regulatory approval in Switzerland, Canada, and Australia, with plans to submit more applications. In November 2014, Actavis acquired Allergan for $66 million, and has recently adopted the name Allergan for the entire company.