Big pharma, Deals, Partnering, Pharma

Allergan, the big pharma, sells its obesity intervention division for $110 million

Posted on 30 October 2013

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Apollo Endosurgery has entered into a definitive agreement to purchase the obesity intervention division of the big pharma, Allergan for up to $110 million.

The big pharma's total amount of sales include:

an upfront cash payment of $75 million,

minority equity interest of $15 million,

and up to $20 million in additional contingent consideration to be paid upon achievement of certain regulatory and sales milestones.

The obesity intervention division is responsible for manufacturing and marketing the LAP-BAND adjustable gastric band system and the ORBERA intra-gastric balloon system.

LAP-BAND® adjustable gastric band is a proven, minimally invasive laparoscopic weight loss device and is US Food and Drug Administration (FDA) approved

ORBERA is a non-surgical alternative for the treatment of overweight and obese adults that is approved for sale outside the United States in over 40 countries.

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