Allergan plc and Kythera Biopharmaceuticals, Inc. have entered into a definitive agreement under which Allergan has agreed to acquire Kythera in a cash and equity transaction valued at $75 per Kythera share, or approximately $2.1 billion, subject to the fulfillment of certain customary conditions. The fixed-value transaction consideration will be payable 80 percent in cash and 20 percent in new AGN shares issued to Kythera shareholders.
The acquisition of Kythera adds Kybella™ (deoxycholic acid) injection, the first and only approved non-surgical treatment for contouring moderate to severe submental fullness, to Allergan’s portfolio. The acquisition will also add Kythera’s development product setipiprant (KYTH-105), a novel compound for the prevention of male pattern baldness, as well as additional early-stage development candidates.
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