Dec 20, 2016
Allergan, a New Jersey based pharmaceutical company, is ending this year on a high note with yet another biotech purchase. It has announced that that it will acquire LifeCell from privately-held Acelity for $2.9 billion in cash. LifeCell focuses on breast reconstruction surgery devices and drugs and is expected to generate $450 million in 2016 revenue.
Brent Saunders, CEO of Allergan, said in a statement: “The acquisition of LifeCell is both strategically and financially compelling to Allergan and serves as our entry point into regenerative medicine as we create a world-class aesthetic and regenerative medicine business in plastic surgery. LifeCell’s regenerative medicine unit is a strong fit with our existing business and can be significantly strengthened with our infrastructure and global reach.”
This fall, Allergan has been on an acquisition spree, buying up several smaller biotech companies to build out its offering. The most recent acquisition of the company was its $125 million deal for Alzheimer’s drug developer Chase Pharmaceutical Corp. This transaction could be worth as much as $1 billion ultimately based on potential milestone payments.