Shares of Allergen(AGN) rose some 0.9% in Friday's trading session. The multi-specialty health care company announced the acquisition of SkinMedica before the market open.
The Deal
Allergen announced on Friday that it will acquire SkinMedica, a privately held aesthetics skin care business. Allergen will pay $350 million in an up-front payment for the business. The deal allows for an additional contingency payment of $25 million depending on certain sales targets.
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