Allergan plc(AGN - Free Report) announced that it has launched Juvéderm Voluma XC in the U.S. The product is a new addition to the Juvéderm range of fillers for lip augmentation and for correcting perioral rhytids, or "lipstick lines", in adults aged 21 and above.
In one year of clinical trials, the Juvéderm Voluma XC injections were found to be effective in augmenting lip fullness and softening fine lines around the mouth. Perioral lines, which are otherwise difficult to treat, have been a concern for aesthetically-oriented patients for a long time. Juvéderm Voluma XC is formulated with Vycross, a type of dermal filler which gives smoother, more comfortable and natural looking and longer lasting appearance.
Per the American Society of Plastic Surgeons (ASPS), the usage of soft tissue fillers was the most rapidly growing cosmetic minimally-invasive procedure in 2015. With the launch of Juvéderm Voluma XC in the market the need of a number of physicians and patients will be addressed. Since the product has minimal side effects which eases within a month of application, the product is expected to generate decent sales for Allergan.
Allergan has been on an acquisition spree this month. Last week, it announced 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 that it has bought the privately held Akarna Therapeutics for $50M 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.
In September, Allergan announced that it will be acquiring the clinical-stage biotech company, Vitae Pharmaceuticals, Inc. , for approximately $639 million. The acquisition, scheduled to close in the fourth quarter of 2016, will boost Allergan’s 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.
Meanwhile, the company sold its generics business to Teva Pharmaceutical Industries Ltd (TEVA - Free Report) in Aug 2016.
Allergan currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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