The Latest Beauty Buyout You Should Know About
By Alison Abbey |
Two major aesthetic powerhouses have merged.
Leading global pharmaceutical company Allergan PLC has announced its plans to buy out Kythera Biopharmaceuticals, Inc., which is known for its aesthetic-focused products.
Allergan, the corporation responsible for fillers and injectables such as Botox, Juvéderm and Latisse, reportedly purchased the company for $2.1 billion.
Recently, Kythera made news with the announcement of its new treatment, Kybella, which offers patients a nonsurgical treatment for submental fullness (double chins). “As a leader in aesthetics, we know our customers are looking to offer their patients new options beyond traditional facial aesthetics. Kybella will do that while complementing our market-leading facial aesthetics portfolio,” says Brent Saunders, CEO and president of Allergen.
While the sale is still underway, experts predict the deal will be completed by the end of the summer.