Healthcare Industry News: Aqua Pharmaceuticals
News Release - September 21, 2018
Almirall acquires Allergan U.S. medical dermatology portfolio*Portfolio includes four available therapies for acne and dermatoses and an investigational compound currently under FDA review
Agreement enhances Almirall's portfolio in the U.S. and emphasizes long-term commitment to the dermatology community
EXTON, Pa., Sept. 21, 2018 -- (Healthcare Sales & Marketing Network) -- Almirall, S.A. (ALM) announced today the finalization of their acquisition of products from Allergan's Medical Dermatology unit in the United States: Aczone® (dapsone), Tazorac® (tazarotene), Azelex® (azelaic acid) and Cordran® Tape (flurandrenolide). In addition, sarecycline, a New Chemical Entity (NCE) currently under FDA review for approval in the treatment of acne is part of the transaction. These portfolio additions further enhance Almirall's presence in the U.S. dermatology space through their subsidiary Aqua Pharmaceuticals, a respected manufacturer of established therapies for a range of medical dermatology indications including acne, eczema, dermatitis, actinic keratoses and bacterial infections.
"With this acquisition, Almirall is cementing its commitment to be a leader in medical dermatology, providing proven brands and innovative new therapies across a broad array of indications as a partner to our customers and patients," said Ron Menezes, President and General Manager, Aqua Pharmaceuticals. "The mature products complement our existing portfolio while sarecycline could soon become one of the promising new oral therapies, which exemplifies our renewed focus on innovation." Should regulatory approvals be granted, Aqua will launch and market the approved product, which has been studied in patients with acne.
Aqua Pharmaceutical's focus is on offering patients a variety of treatment options for their skin health. To that end they are exploring new areas in dermatology, including new molecules for the treatment of actinic keratosis.
The transaction closed for a cash consideration of $550MM. This agreement also contemplates a possible earn-out, up to $100 MM and payable in Q1/2022, depending on business performance.
Almirall is a leading skin-health focused global pharmaceutical company that partners with healthcare professionals, applying science to provide medical solutions to patients and future generations. Our efforts are focused on fighting against skin-health diseases and helping people feel and look their best. We support healthcare professionals, bringing our innovative solutions where they are needed.
The company, founded 75 years ago and with headquarters in Barcelona, is listed on the Spanish Stock Exchange (ticker: ALM). Almirall has become a key element of value creation to society according to its commitment with its major shareholders and its decision to help others, to understand their challenges and to use science to provide them with solutions for real life. Total revenues in 2017 were 755.8 million euros. It has more than 1,830 employees.
Aqua Pharmaceuticals was acquired by Almirall in 2013.
This document includes only summary information and does not intend to be comprehensive. Facts, figures and opinions contained herein, other than historical, are "forward-looking statements". These statements are based on currently available information and on best estimates and assumptions believed to be reasonable by the Company. These statements involve risks and uncertainties beyond the Company's control. Therefore, actual results may differ materially from those stated by such forward-looking statements. The Company expressly disclaims any obligation to review or update any forward-looking statements, targets or estimates contained in this document to reflect any change in the assumptions, events or circumstances on which such forward-looking statements are based unless so required by applicable law.
* Excludes Rhofade.
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