Biotech Values

[DewDiligence]

AGN acquires private SkinMedica for $350M in cash:

http://finance.yahoo.com/news/allergan-inc-acquire-skinmedica-inc-140000228.html

SkinMedica sells prescription and non-prescription cosmetic products that are dispensed at physician’s offices. Its leading product is Vaniqa, a topical cream to eliminate unwanted facial hair that obtained FDA approval in 2000 under the sponsorship of BMY and Gillette and was later sold to a third party that went bankrupt; SkinMedica acquired the US rights in 2004 from the bankruptcy court, and BMY still performs the manufacturing.