Allergan Set to Buy Vitae

The Irish drugmaker has made a $639 million dollar offer to buy the US-based biopharma.

Sep 16, 2016
Bob Grant

WIKIMEDIA, REVISORWEBAllergan, the Ireland-based pharmaceutical company that makes Botox, is set to acquire Vitae Pharmaceuticals, which is developing treatments for psoriasis and other autoimmune conditions, for around $639 million. “The acquisition of Vitae is a strategic investment for Allergan that adds strength and depth to our innovative medical dermatology franchise,” said Allergan CEO Brent Saunders in a statement released this week (September 14). “Vitae has pioneered the discovery and development of highly differentiated first-in-class compounds in atopic dermatitis, psoriasis and autoimmune diseases, areas of medicine where innovation is needed for patients.”

The deal is expected to close by the end of this year.