Almirall closes agreement with Allergan and acquires its U.S. medical dermatology portfolio
The transaction has been closed for a cash consideration of $550MM. This agreement also contemplates a possible earn-out, up to $100 MM and payable in Q1/2022, depending on business performance. It is immediately EPS accretive from 2019 onwards and enhances Almirall's portfolio in the U.S.
The transaction is simple and fully synergistic —no corporate structure, promotional salesforce or manufacturing is included— and it has received the support of investors and analysts, who have raised the target price of Almirall's shares on the stock market since the deal was announced in August 3rd, 2018.
Almirall is focused on it
medical dermatology franchise which will become a key growth driver after this deal, representing circa 45% of net sales (proforma). As a consequence, the company will look at strategic options for its aesthetic business. ■