Pharma BD Deal Intelligence
The breast-implant half (Natrelle) became a durable aesthetics franchise; the obesity-device half (Lap-Band), roughly a third of the deal's value driver, was sold off eight years later for pennies on the dollar and later entangled Allergan in a cancer-recall and False Claims Act scandal.
Full analysis, sources & comparables →Allergan's bid valued Inamed at roughly $3.2-3.5B, beating an earlier Medicis offer that had been challenged on antitrust grounds for combining the leading…
FTC required Allergan to divest Reloxin US rights back to Ipsen as a condition of the $3.2B Inamed acquisition, citing risk that the deal would eliminate the…
Allergan and Inamed cleared the final antitrust hurdle by handing Reloxin rights back to Ipsen, allowing the $3.2B aesthetics combination to close in March…
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Allergan announces $3.2B acquisition of Inamed ($84/share cash or 0.8498 shares); medical aesthetics/breast implants. FTC required Reloxin divestiture. Closed March 2006.
The breast-implant half (Natrelle) became a durable aesthetics franchise; the obesity-device half (Lap-Band), roughly a third of the deal's value driver, was sold off eight years later for pennies on the dollar and later entangled Allergan in a cancer-recall and False Claims Act scandal.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Allergan plc / Inamed Corporation (this deal) | 2005 | $3.2B | 50 |
| Allergan plc / Merck & Co., Inc. (CGRP receptor antagonist program) | 2015 | $250M | 91 |
| Allergan plc / SkinMedica, Inc. | 2012 | $375M | 55 |
| Allergan plc / Oculeve, Inc. | 2015 | $250M | 33 |
| Allergan plc / Zeltiq Aesthetics, Inc. | 2017 | $2.5B | 32 |
| Allergan plc / Kythera Biopharmaceuticals, Inc. | 2015 | $2.1B | 23 |
| Allergan plc / Anterios, Inc. | 2016 | $90M | 19 |
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