Sign up USA
Proactive Investors - Run By Investors For Investors

Allergan to buy body contouring company Zeltiq Aesthetics

Pharmaceutical group Allergan has announced the acquisition of Zeltiq Aesthetics for $2.475bn to gain access to its body contouring technology.
Allergan to buy body contouring company Zeltiq Aesthetics
Allergan is to buy Zeltiq Aesthetics

Botox maker Allergan (NYSE:AGN) has agreed to buy body contouring company Zeltiq Aesthetics for $2.475bn.

Dublin-based Allergan will pay $56.50 per Zeltiq share, a 14.4% premium to the group’s closing price on Friday.

The acquisition will give Allergan access to Zeliq’s body contouring technology, CoolSculpting System, which reduces stubborn fat cells that may not respond to diet or exercise.

The technology will compliment Allergan’s treatment, Kybella, which is used to reduce fat under the chin.

Allergan said body contouring presents a $4bn market opportunity worldwide and the purchase of Zeltiq will be immediately earnings accretive.

 "With CoolSculpting, our offerings to plastic surgeons, dermatologists and aesthetic practitioners will now extend to three of the largest and fastest-growing segments of their practices," chairman and chief executive Brent Saunders said.

The acquisition is subject to shareholder approval.

Since its $160bn merger with Pfizer collapsed in April, Allergan has been involved in a batch of deals including the acquisition of Acelity's LifeCell.

Allergan announced it was buying LifeCell, which produces products for breast reconstruction and soft tissue repair, in December and it is expected to boost the company’s earnings in coming years. 

Register here to be notified of future AGN Company articles
View full AGN profile

Allergan Timeline

February 08 2017
December 20 2016
November 02 2016
September 20 2016
August 15 2016
August 08 2016
June 10 2016

Related Articles

Benjamin Franklin wearing a medical mask
March 24 2016
Constellation has identified a significant market opportunity in healthcare billing management.
Harley Street London street sign
May 27 2016
The cancer treatment specialist has received funding to bring its breakthrough therapy to London.
November 10 2016
Patent safeguards the technology at the heart of the device that offers a non-invasive method of monitoring diabetes.
Copyright ©, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC