Allergan PLC will pay Acelity LP Inc. $2.9bn to buy the LifeCell Corp. portfolio of aesthetic and surgical products. The all-cash deal not only marks Allergan’s first regenerative medicine transaction – and one that is accretive to the specialty pharma company's top- and bottom-line, it will also provide Acelity with an alternative source of new capital now that the firm has finally quashed its long-held hopes for an IPO.
The LifeCell purchase gives Allergan a suite of commercial products for what chief commercial officer William Meury describes as the...