Allergan shells out $2.9bn for regenerative medicine unit LifeCell
pharmafile | December 21, 2016 | News story | Research and Development, Sales and Marketing | Allergan, LifeCell, acquisition
Allergan has agreed a deal to acquire Acelity-owned regenerative medicine unit LifeCell for $2.9 billion in cash, assimilating its portfolio of dermal matrix products to complement its own offering of medical aesthetics, breast implants and tissue expanders.
The deal rounds out the year by marking the 12th deal in 2016 for the company. Allergan hopes the move will bolster its plastic and general surgery business, potentially bringing in an expected $450 million in 2016 revenue.
“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,” said Brent Saunders, chairman and CEO of Allergan. “This acquisition is an immediately accretive investment that enhances our near-term and long-term growth profile with products that enjoy strong sales and are the leading choices for surgeons who rely on them for successful surgical procedures.”
Acelity president and CEO Joe Woody also commented: “The LifeCell brand leads the industry for safety, efficacy and superior clinical results, and we are pleased to have found the perfect partner for LifeCell in Allergan. This transaction not only sets LifeCell up for continued success, but it also allows Acelity the ability to continue our own transformation with increased momentum and investments that focus on developing and commercializing advanced wound therapies and dressings in markets around the world.”
Key products from LifeCell’s portfolio include human allograft tissue matrix Alloderm, single use high-volume fat grafting device Revolve and industry-standard hernia repair tissue matrix Strattice.
Matt Fellows
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