The purchase was made in part to bolster Almirall’s standing in the U.S. dermatology market. Allergan sold its skin care portfolio to Almirall for $650 million, which included an initial cash payment of $550 million and “a potential earn-out of up to $100 million in 2022” which is contingent on the drug sales.
The acquired portfolio includes Aczone (dapsone), a gel-based acne medication; Tazorac (tazarotene), a retinoid for acne; Azelex (azeliac acid), a topical treatment for mild to moderate acne; Crodran Tape (fludroxycortide) dermatoses; and SeysaraTM (sarecycline), an antibiotic for moderate to severe acne vulgaris, which is still pending Food and Drug Administration (FDA) approval.
Almirall anticipates SeysaraTM sales to reach $150 million to $200 million when it receives FDA clearance. The U.S. sales for the other drugs listed in the acquisition have already generated $70 million so far in 2018.
“This is a transformational deal for Almirall,” said Almirall’s CEO Peter Guenter. “It will reinforce and consolidate our position in the world’s largest dermatology market and is a well-balanced portfolio of mature and growth brands with a major launch opportunity of an innovative New Chemical Entity (NCE). It is perfectly complementary to our existing platform and will be immediately accretive to our earnings. It offers us medium- to long-term top and bottom line growth opportunities. Moreover, it will allow for an expanded platform to launch KX2-391, which has the potential to become a new standard of care in actinic keratosis”.