Allergan Sells U.S. Dermatology Portfolio to Almirall

Last week, Spanish pharmaceutical company Almirall announced the purchase of Allergan’s U.S. dermatology unit. The acquisition includes Allergan’s products for acne and dermatoses.

The purchase was made in part to bolster Almirall’s standing in the U.S. dermatology market. Allergan sold its skin care portfolio to Almirall for $650 million, which included an initial cash payment of $550 million and “a potential earn-out of up to $100 million in 2022” which is contingent on the drug sales.

The acquired portfolio includes Aczone (dapsone), a gel-based acne medication; Tazorac (tazarotene), a retinoid for acne; Azelex (azeliac acid), a topical treatment for mild to moderate acne; Crodran Tape (fludroxycortide) dermatoses; and SeysaraTM (sarecycline), an antibiotic for moderate to severe acne vulgaris, which is still pending Food and Drug Administration (FDA) approval.

Almirall anticipates SeysaraTM sales to reach $150 million to $200 million when it receives FDA clearance. The U.S. sales for the other drugs listed in the acquisition have already generated $70 million so far in 2018. 

“This is a transformational deal for Almirall,” said Almirall’s CEO Peter Guenter. “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”.