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Allergan to buy LifeCell for $2.9bn cash

Last updated: 15:49 20 Dec 2016 EST, First published: 10:49 20 Dec 2016 EST

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The maker of Botox is buying LifeCell

Allergan (NYSE:AGN), the maker of wrinkle-filler Botox, said on Tuesday that it has agreed to buy regenerative medicine company LifeCell for $2.9bn in cash.

Allergan said LifeCell, whose soft-tissue regeneration products are used in breast surgeries, is expected to generate some $450mln in revenue for 2016 and will help boost its own range of plastic surgery products.

The pharma giant pledged eight months ago after its failed $160bn merger with Pfizer (NYSE:PFE) to boost growth through smaller bolt-on acquisitions.

Allergan shares were down 0.6% at $191.47 on Tuesday.

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