Allergan, Kythera announce FTC's early termination of waiting period for acquisition

Allergan and Kythera Biopharmaceuticals announced that the U.S. Federal Trade Commission has granted early termination of the waiting period with respect to Allergan’s pending acquisition of Kythera under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Allergan and Kythera, which in late April received FDA approval for Kybella (deoxycholic acid) for treating moderate-to-severe submental fullness in adults, each filed a premerger notification and report form on July 6, pursuant to the HSR Act with the Antitrust Division of the U.S. Department of Justice and the FTC, according to the release. The early termination by the FTC is one condition to the pending acquisition, which is valued at approximately $2.1 billion. Other customary closing conditions still must be met, including approval by Kythera’s shareholders, the release stated.

In addition to Kybella, also known as ATX-101, Kythera has licensed the worldwide rights to setipiprant (KYTH-105), a potential treatment for hair loss in early stage of development, the release reported.

Reference: www.allergan.com