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news.Allergan has announced that its wholly owned subsidiary, Allergan Sales, has entered into an agreement with QLT USA, a wholly owned subsidiary of QLT, to acquire QLT's Aczone gel 5% product, a topical treatment for acne vulgaris.
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Under the terms of the agreement, Allergan will pay approximately $150 million for all assets relating to Aczone gel 5% upon closing, which is expected to occur in the third quarter of 2008. Closing of the transaction is subject to antitrust clearance under the Hart-Scott-Rodino Act and other customary closing conditions.
Allergan expects to launch Aczone gel 5% in the fourth quarter of 2008 to dermatologists in the US and Canada.
Scott Whitcup, executive vice president of R&D at Allergan, said: “Aczone gel 5% is the first new chemical entity approved by the FDA for the treatment of acne in several years, and represents an important clinical advance in dermatology with a robust safety and efficacy profile demonstrated in more than 3,000 patients.”