Allergan Bolsters Blockbuster Botox With Topical Toxin Buy

Allergan PLC will pay $90m up front to acquire the topical botulinum toxin maker Anterios Inc. in a move that may protect and improve the company's position in aesthetic and therapeutic indications in which the blockbuster wrinkle-reducer and migraine-reliever Botox (onabotulinumtoxinA) is approved.

The deal gives New York-based Anterios an immediate payment that's almost $30m more than it sought in an initial public offering that was abandoned in May, while allowing the firm to keep the rights for an injectable botulinum toxin via a new entity called Eirion Therapeutics Inc. For Allergan, which expects to complete a $160bn merger with Pfizer Inc