Almirall, S.A. has acquired a portfolio of five products from Allergan’s Medical Dermatology unit in the United States, conditional to the clearance by the relevant authorities. It comprises a balanced portfolio of mature and growth brands, Aczone (dapsone), Tazorac (tazarotene), Azelex (azelaic acid) and Cordran Tape (fludroxycortide), as well as Seysara (sarecycline), a new tetracycline-derived antibiotic with anti-inflammatory properties for the treatment of moderate to severe acne vulgaris, in patients nine years of age and older, with a best-in-class safety profile. The FDA approval of Seysara (sarecycline) is anticipated in Q4 2018.
Peter Guenter, CEO Almirall, commented, “This is a transformational deal for Almirall. It will reinforce and consolidate our position in the world’s largest dermatology market and is a well-balanced portfolio of mature and growth brands with a major launch opportunity of an innovative New Chemical Entity (NCE). It is perfectly complementary to our existing platform and will be immediately accretive to our earnings. It offers us medium to long term top and bottom line growth opportunities. Moreover, it will allow for an expanded platform to launch KX2-391, which has the potential to become a new standard of care in actinic keratosis”
- With this acquisition, Almirall consolidates and reinforces its presence in the US, the largest market in the world, and expands its range of dermatological products, representing a transformational step for Almirall US as well as Almirall as a whole.
- The portfolio is a balanced mix of mature and growth brands with a first in class, innovative NCE for the treatment of acne. This will result in immediate earnings accretion, create critical mass and provide medium to long term growth opportunities. We expect peak sales of SeysaraTM (sarecycline) from $150MM to $200MM.
- The portfolio had net sales of $70MM in H1 2018.
- Our global and US leadership team is comprised of several former Allergan senior executives with a deep knowledge of the acquired product portfolio.
The acquisition has been announced for a cash consideration of $550 MM at closing.
(Source: Almirall, S.A.)