Allergan has announced the acquisition of the medical technology company Zeltiq Aesthetics in a deal worth $2.4 billion (1.86 billion pounds).
The purchase of the medical technology company gives Allergan access to its proprietary controlled-cooling fat reducing treatment CoolSculpting, the sales leader in the fast-growing cash-pay body contouring segment of medical aesthetics.
“Allergan has completed the acquisition of Zeltiq Aesthetics, the medical technology company responsible for the CoolSculpting brand.“
CoolSculpting works by gently cooling targeted fat cells in the body to induce a natural, controlled elimination of fat cells, without affecting the surrounding tissue. It is marketed in more than 80 countries, with entry into additional markets expected in 2017 and 2018.
Body contouring is expected to become the third pillar in Allergan's global aesthetics portfolio, alongside the existing facial aesthetics and plastic surgery/regenerative medicine businesses.
Bill Meury, chief commercial officer of Allergan, said: "We are thrilled to complete the acquisition of Zeltiq, which immediately expands our world-class global aesthetic business into the highly complementary and fast-growing body contouring segment."
This builds on Allergan's position of having one of the broadest development pipelines in the pharmaceutical industry, with more than 70 mid-to-late stage pipeline programmes currently in development.
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