Allergan has been cleared to take over ‘aesthetic medicine’ specialist Inamed by regulators in Germany and Spain, and now only needs the go-ahead in the USA to allow it to complete the deal.
Allergan and Inamed are now working through the details of the proposed $3.2 billion-dollar acquisition with the US Federal Trade Commission, and said it expects a green light ‘in the near future’.
Central to the negotiations with the FTC is the disposal of Inamed’s Reloxin (botulinum toxin type A), a treatment for facial wrinkles that is a competitor to Allergan’s market-leading Botox (botulinum toxin type A) product. Botox sales were around $600 million in the first nine months of last year for both cosmetic uses and applications in relieving neck pain.
A likely buyer for Reloxin is former Inamed suitor Medicis, which withdraw an offer for the aesthetic medicine firm after the latter voiced its support for Allergan's bid.
An Allergan/Inamed combination would address the fast-growing market for non-surgical cosmetic products, currently valued at more than $45 billion and tipped to expand to $72 billion by 2009, according to market research firm Business Communications Co.
Allergan is said to be particularly interested in adding Inamed's Juvederm dermal filler range to its product portfolio, as this type of product could be used alongside Botox treatment.