Allergan spending some of its money on a shopping spree today.

Discussion in 'Valeant Pharmaceuticals' started by Anonymous, Aug 13, 2014 at 5:34 PM.

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  1. Anonymous

    Anonymous Guest

    Allergan Acquires LiRIS® Program from TARIS Biomedical®

    TARIS LiRIS® Program in Phase 2 Clinical Development for the Localized Treatment of Interstitial Cystitis / Bladder Pain Syndrome
    Acquisition Enhances Allergan's Leadership Position in Urology and Reinforces the Company's Commitment to Developing Innovative Treatments to Address Important Medical Needs

    IRVINE, Calif. and LEXINGTON, Mass.--(BUSINESS WIRE)-- Allergan Inc. (NYSE: AGN) ("Allergan") and TARIS Holdings LLC today announced that Allergan has closed a transaction to acquire worldwide rights to TARIS Biomedical's® ("TARIS") lead program, LiRIS®, which is currently in Phase 2 trials for the treatment of interstitial cystitis / bladder pain syndrome (IC/BPS). Allergan paid $67.5 million in cash upfront, subject to certain adjustments and holdbacks. Allergan has also agreed to pay up to an aggregate of $295 million in development milestone payments and up to an aggregate of $225 million in commercial milestone payments. Prior to the closing of this transaction, TARIS spun out certain assets, including pipeline programs and intellectual property related to TARIS' platform technology, to a new company funded by TARIS shareholders.

    "Allergan has a longstanding history of delivering stockholder value by developing innovative medical treatments that address unmet medical needs," said David E.I. Pyott, Chairman of the Board and Chief Executive Officer, Allergan. "Our work to develop BOTOX® (onabotulinumtoxinA) as a second-line treatment for overactive bladder (OAB) has made a significant difference for patients who suffer from this chronic condition. The acquisition of LiRIS® is an important addition to our growing urology pipeline and, if approved, will provide a local treatment for interstitial cystitis / bladder pain syndrome, which is a debilitating bladder condition."

    "This transaction is a win for patients, for our shareholders and employees, and for the future potential of our core delivery technologies," said Purnanand Sarma, Ph.D., President and CEO of TARIS. "Allergan is an ideal partner for advancing LiRIS® because of its team's expertise in drug delivery technologies, specialty product development and commercialization in the urology market. We are confident that Allergan will enable LiRIS® to reach patients who do not have effective options that adequately address their disease. Building on the success of LiRIS® so far, we will now be able to focus our efforts on developing a rich pipeline of applications of our technology, including new treatments for bladder cancer and other areas of unmet need in urology."
     

  2. Anonymous

    Anonymous Guest

    Spending today! If you had any clue about how R&d works you would know that these sorts of deals take months (so that appropriate due diligence is done). But then, R&D is not something Valeant is familiar with...
     
  3. Anonymous

    Anonymous Guest

    Two great CEOs from vrx and agn in top ten of HBR global
     
  4. Anonymous

    Anonymous Guest

    1 great CEO and it isn't Pearson!
     
  5. Anonymous

    Anonymous Guest

    how many people do we hire to push down relevant content and bump up irrelevant / old news?
     
  6. Anonymous

    Anonymous Guest

    I guess you were already thinking it was "your money". Poor assumption.
     
  7. Anonymous

    Anonymous Guest



    So are you suggesting the money is VRX's? That is presumptuous to say the least!