Allergan completes acquisition of Kythera

Allergan has announced the completion of its acquisition of Kythera, an all-cash transaction valued at approximately $2.1 billion (1.38 billion pounds).

The newly-purchased company is focused on the discovery, development and commercialisation of novel prescription products for the medical aesthetics market, including the promising US-approved Kybella.

Allergan regards Kybella, a non-surgical injection for improvement in the appearance of moderate to severe submental fullness – also known as double-chin – as a potentially game-changing offering in the facial aesthetics market.

The acquisition also gives Allergan access to the development product setipiprant , a novel compound for the prevention of androgenetic alopecia or male pattern hair loss, as well as additional early-stage development candidates. 

Brent Saunders, chief executive officer and president of Allergan, said: "The completion of the Kythera acquisition is an important moment for Allergan and our world-class aesthetics business, adding highly differentiated products and development programs that enhance our product offering to global customers and their patients."

This follows the acquisition of development-stage medical device company Oculeve earlier this year.