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Allergan Gets FDA Approval for New Line of Breast Implants

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Allergan plc (AGN - Free Report) announced the FDA approval for the Natrelle Inspira Cohesive line of breast implants for breast reconstruction, augmentation or revision surgery.

These implants, which combine a high gel fill ratio and Allergan's highly cohesive gel, will be available in two versions — a smooth and a textured version. These gel-filled implants are the latest addition to Allergan’s Natrelle line of breast implant products available in the U.S.

Allergan has been in the news lately for the string of acquisitions it has announced this month. It has inked a definitive deal to acquire Tobira Therapeutics, Inc. , a clinical-stage biotechnology company focused on making drugs to treat non-alcoholic steatohepatitis (NASH) and other liver diseases at a massive premium of 500%. On the same day, Allergan also announced the buyout of privately held Akarna Therapeutics for $50 million in upfront cash plus unspecified milestones. Akarna Therapeutics’ lead product candidate AKN-083, a preclinical-stage FXR agonist, is also being evaluated for the treatment of NASH.

Earlier this month, Allergan also announced that it will be acquiring clinical-stage biotech company, Vitae, for approximately $639 million. The acquisition, scheduled to close by the year end, will enable Allergan to boost its dermatology pipeline. Allergan also announced the acquisition of RetroSense Therapeutics, a privately held, clinical-stage biotechnology company, which will add the latter’s lead gene therapy development program RST-001 to Allergan’s eye care pipeline.

Allergan, one of the largest and fastest growing drugmakers, has a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the healthcare sector include Amphastar Pharmaceuticals, Inc. (AMPH - Free Report) and AxoGen, Inc. (AXGN - Free Report) .

Amphastar Pharmaceuticals sports a Zacks Rank #1 (Strong Buy). The company has delivered an average four-quarter positive earnings surprise of 456.25% and has a long-term earnings growth rate of 23.1%. Shares of Amphastar Pharmaceuticals have surged around 41% year to date. You can see the complete list of today’s Zacks #1 Rank stocks here.

AxoGen, a Zacks Rank #2 (Buy) stock, has delivered an average four-quarter positive earnings surprise of 7.98%. The company's shares have gained around 77% year to date.

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