Allergan, Inc. to Acquire SkinMedica, Inc.

  Allergan, Inc. to Acquire SkinMedica, Inc.

  Acquisition Enhances Allergan Leadership in “Physician Dispensed” Topical
                                  Aesthetics

Business Wire

IRVINE, Calif. -- November 16, 2012

Allergan, Inc. (NYSE:AGN) announces that it has entered into a definitive
agreement with SkinMedica, Inc. to acquire the privately held company’s
topical aesthetics skin care business. Under the terms of the agreement,
Allergan will pay SkinMedica $350 million up-front (subject to certain
adjustments) for the business, which includes a variety of “physician
dispensed” non-prescription aesthetic skin care products and prescription
products. Allergan will also pay SkinMedica an additional $25 million
contingent upon the acquired products achieving a specific level of net sales.
The acquisition, which is expected to close later this year, does not include
the SkinMedica Colorescience aesthetic make-up line. SkinMedica will be
spinning out the Colorescience business in connection with the closing of the
acquisition.

“Allergan is widely recognized for our leadership in the facial aesthetics
area,” said David E.I. Pyott, Chairman of the Board, President and Chief
Executive Officer, Allergan. “The acquisition of SkinMedica will nicely
complement our existing facial aesthetics business, which includes products
such as BOTOX® Cosmetic, JUVEDERM®, and LATISSE®, and will enable us to take a
leadership position in the growing 'physician dispensed' topical aesthetics
skin care category. Most importantly, the acquisition will allow us to expand
our product portfolio to better meet the needs of our existing base of
physician customers and their patients.”

Following the acquisition, Allergan plans to operate SkinMedica as a separate
global business and will leverage a number of Allergan’s existing preferred
customer programs with the SkinMedica product line to provide additional
benefits to physicians and patients. Bob Rhatigan, who currently serves as
Senior Vice President, Facial Aesthetics, Allergan, will assume the role of
Senior Vice President, General Manager and Chief Executive, SkinMedica. Mary
Fisher, Chief Executive Officer, SkinMedica, will join Allergan and assist Mr.
Rhatigan in the acquisition integration to ensure the maximization of revenue
building opportunities. The Allergan topical aesthetics sales force and the
SkinMedica sales force will continue to represent their respective product
lines over the near term. Following the completion of the acquisition, a
larger and combined SkinMedica sales force will assume responsibility for the
line of products including the revolutionary SkinMedica TNS product line,
Allergan’s VIVITÉ® product line and LATISSE®, the one and only FDA approved
product to treat inadequate or not enough eye lashes.

About SkinMedica

SkinMedica, Inc. is focused on developing, acquiring, and commercializing
products that improve the appearance of skin. SkinMedica markets and sells to
physicians, with a focus on aesthetics, both prescription and non-prescription
skin care products. The company's full line of aesthetic skin care products
includes the revolutionary TNS Essential Serum® and hallmark TNS Recovery
Complex®. The formulations in SkinMedica’s clinical skin care collection
enhance skin appearance, reduce signs of aging, and provide other skin care
benefits. SkinMedica's primary prescription product, VANIQA® (eflornithine
hydrochloride) Cream 13.9%, is the only FDA-approved prescription product for
the reduction of unwanted facial hair in women.

About Allergan, Inc.

Allergan is a multi-specialty health care company established more than 60
years ago with a commitment to uncover the best of science and develop and
deliver innovative and meaningful treatments to help people reach their life’s
potential. Today, we have approximately 10,500 highly dedicated and talented
employees, global marketing and sales capabilities with a presence in more
than 100 countries, a rich and ever-evolving portfolio of pharmaceuticals,
biologics, medical devices and over-the-counter consumer products, and
state-of-the-art resources in R&D, manufacturing and safety surveillance that
help millions of patients see more clearly, move more freely and express
themselves more fully. From our beginnings as an eye care company to our focus
today on several medical specialties, including eye care, neurosciences,
medical aesthetics, medical dermatology, breast aesthetics, obesity
intervention and urologics, Allergan is proud to celebrate more than 60 years
of medical advances and proud to support the patients and physicians who rely
on our products and the employees and communities in which we live and work.
For more information regarding Allergan, go to: www.allergan.com.

Allergan Forward-Looking Statements

This press release contains "forward-looking statements," including, but not
limited to, the statements by Mr. Pyott and other statements regarding the
transaction, including closing and the timing of closing, statements regarding
the expected benefits of the transaction and other statements regarding how
Allergan plans to operate SkinMedica. These statements are based on current
expectations of future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could vary
materially from Allergan's expectations and projections. Risks and
uncertainties include, among other things, general industry and market
conditions; technological advances and patents attained by competitors;
challenges inherent in the research and development and regulatory processes;
challenges related to product marketing, such as the unpredictability of
market acceptance for new products and/or the acceptance of new indications
for such products; inconsistency of treatment results among patients; general
economic conditions; and governmental laws and regulations affecting domestic
and foreign operations. Allergan expressly disclaims any intent or obligation
to update these forward-looking statements except as required by law.
Additional information concerning the above referenced risk factors and other
risk factors can be found in Allergan's public periodic filings with the
Securities and Exchange Commission, including the discussion under the heading
"Risk Factors" in Allergan's 2011 Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q. Additional information about Allergan is
available at www.allergan.com or you can contact the Allergan Investor
Relations Department by calling 714-246-4636.

Contact:

Allergan Contacts:
Bonnie Jacobs (856) 912-9965 (media)
Cathy Taylor (949) 293-4453 (media)
Jim Hindman (714) 246-4636 (investors)
Joann Bradley (714) 246-4766 (investors)
David Nakasone (714) 246- 6376 (investors)
 
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