Allergan announces takeover of Vitae Pharmaceuticals

Allergan has strengthened its dermatology portfolio with the acquisition of Vitae Pharmaceuticals, a clinical-stage biotechnology company.

The $639 million (483.94 million pounds) deal will allow Allergan to add a number of differentiated development programmes to its medical dermatology pipeline, including VTP-43742, a therapy in phase II development for the potential treatment of psoriasis and other autoimmune disorders.

Through this deal, Allergan will also gain access to VTP-38543, a selective agonist for the potential treatment of atopic dermatitis. Vitae's uses a structure-based drug design platform called Contour to discover product candidates for validated therapeutic targets.

Pending regulatory approval, Allergan is expecting to complete this transaction by the end of the calendar year.

Brent Saunders, chief executive officer and president of Allergan, said: "The acquisition of Vitae is a strategic investment for Allergan that adds strength and depth to our innovative medical dermatology franchise."

This comes after the firm recently announced the acquisition of ForSight VISION5, the developer of new technology for the treatment of glaucoma.

With over 20 years of experience within the pharmaceutical market, we at Zenopa have the knowledge, skills and expertise to help find the right job for you. To find out more about the current pharmaceutical roles we have available, you can search for the latest job roles, register your details, or contact the team today.