Adding to cosmetic portfolio, Allergan buys Topokine for $85 million
- Botox-maker Allergan on Thursday announced it has bought the Boston,MA-based Topokine Therapeutics for $85 million upfront, adding a late-stage treatment for undereye bags to its cosmetic drug pipeline.
- Since the mega-merger with Pfizer collapsed in the wake of stricter U.S. tax inversion rules, Allergan has moved quickly to build out its portfolio. Earlier this month, the Irish company signed a potentially $3.3 billion licensing deal with Heptares Therapeutics for rights to several neurological treatments in development.
- In acquiring Topokine, Allergan will gain access to XAF5, which is in a phase 2b/3 study for the treatment of steatoblepharon, or undereye bags.
Topokine recently completed a phase 2 trial for the drug, which met its primary endpoint for meaningful reduction of undereye bags. The phase 2b/3 study kicked off in January.
Allergan has a number of cosmetic drugs in its portfolio, headlined by the blockbuster Botox. Last year the company bought Kythera for $2.1 billion, adding an injectable drug for the treatment of double-chin.
This acquisition will further complement Allergan's existing portfolio. "The acquisition of Topokine and its XAF5 technology adds an innovative technology to Allergan's industry leading mid-to-late stage pipeline of more than 70 programs and bolsters our leadership in medical aesthetics," said David Nicholson, head of Global Brands Research & Development at Allergan.
The deal also includes success-based development and sales milestones for XAF5.
Coupled with its earlier deal for Heptares, Allergan appears to be building on its own strategy as a standalone company. Post-Pfizer, many are expecting Allergan to be aggressive on the acquisition front.
A $40.5 billion sale of its generics portfolio to Teva is still pending U.S. regulatory approval, but will give Allergan a large influx of cash if it goes through. Allergan has said it expects the deal to be okayed sometime in June.
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