Allergan PLC Completes Acquisition of Kythera Biopharmaceuticals

Allergan PLC (NYSE:AGN) had two major announcements made public on Thursday. The first was the successful completion of the company’s acquisition of Kythera Biopharmaceuticals Inc (NASDAQ:KYTH). Allergan PLC (NYSE:AGN) also received FDA approval for marketing their JUVEDERM ULTRA XC injection for lip augmentation.
Kythera Biopharmaceuticals Inc (NASDAQ:KYTH) is a clinical-stage biopharma company involved in the discovery and commercialization of drugs for use in aesthetics. The acquisition was valued at around $2.1 billion. Allergan PLC (NYSE:AGN)’s acquisition of Kythera Biopharmaceuticals Inc (NASDAQ:KYTH) adds KYBELLA® (deoxycholic acid) to the company’s drug portfolio.
KYBELLA® is the first of its kind FDA approved injection that can be administered non-surgically for aesthetic improvement of mild to severe submental fullness or double-chin in adults. A trained physician essentially injects the drug under the patient’s chin which acts as a fat destroying agent for cells located in the chin area, subsequently reducing double chin. The treatment lasts upto six months since the drug is required to be administered six times with each injection being administered after an interval of maximum one month.
Read more at Inside Trade.