“The acquisition of Zeltiq is highly complementary and strategic to Allergan,” Brent Saunders, Allergan’s chairman and chief executive officer, said in a statement. “By adding the best-in-class body contouring CoolSculpting System to our best-in-class facial aesthetics, plastic surgery and regenerative medicine offerings we are creating a world-class aesthetics business. With CoolSculpting, our offerings to plastic surgeons, dermatologists and aesthetic practitioners will now extend to three of the largest and fastest-growing segments of their practices, putting Allergan in a unique position to provide expanded customer service, and help meet the needs of patients.”
This new acquisition of CoolSculpting system, approved by the U.S. Food and Drug Administration, is important to Allergan as it estimates that body contouring is a $4 billion market.
Furthermore Allergan has been involved in numerous acquisitions over the last year: it acquired Acelity’s LifeCell, which manufactures and markets products for breast reconstruction and soft tissue repair and the biotech company Vitae Pharmaceuticals
Allergan already has a big aesthetics business, with Botox, line fillers, implants and eye care. MoreoverAllergan has a lot of expectations for its injection Kybella, used to diminish fat under the chin, in 2017.
Allergan had the 28% of its net revenue, in the three months ended Dec. 31 2016, coming from medical aesthetic product sales.
The transaction is expected to close in the second half of 2017.