Allergan Successfully Completes LifeCell Acquisition

DUBLIN, Feb. 1, 2017 /PRNewswire/ -- Allergan plc (NYSE: AGN), a leading global biopharmaceutical company, today announced that it has successfully completed the acquisition of LifeCell Corporation, a leading regenerative medicine company. Allergan acquired LifeCell for approximately $2.9 billion in cash.

The Company plans to provide its 2017 guidance, including LifeCell, as part of its fourth quarter and full year 2016 earnings results on February 8, 2017.

"The completion of the LifeCell acquisition is an important milestone for Allergan, serving as our entry point into regenerative medicine as we continue to add to our world-class aesthetic and plastic surgery business," said Brent Saunders, Chairman and CEO of Allergan.  "The combination of LifeCell's novel regenerative medicine products coupled with Allergan's innovative medical aesthetics and plastic surgery portfolio creates a more complete product offering for plastic surgeons globally."

The acquisition adds LifeCell's novel, regenerative medicines business, including its high-quality and durable portfolio of dermal matrix products to Allergan's leading portfolio of medical aesthetic products, breast implants and tissue expanders. Together, these product lines create a world-class aesthetic and regenerative medicine business providing significant opportunity to enhance the overall product offering for plastic and general surgery customers.

The LifeCell commercial portfolio features Acellular Dermal Matrices, commonly used in breast reconstruction procedures and complex hernia surgeries. Key products include ALLODERM^®, a human allograft tissue matrix used in breast reconstruction post-masectomy; and REVOLVE™, a single use high-volume fat grafting device used in plastic and reconstructive procedures. Additionally, LifeCell markets STRATTICE™, a porcine based tissue matrix used in complex abdominal wall repair and for the surgical repair of damaged or ruptured soft tissue. In addition to commercial products, Allergan has also acquired LifeCell's innovative manufacturing capabilities and its R&D operations, based in New Jersey.  

About Allergan plc

Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical company and a leader in a new industry model – Growth Pharma.  Allergan is focused on developing, manufacturing and commercializing branded pharmaceuticals, devices and biologic products for patients around the world.

Allergan markets a portfolio of leading brands and best-in-class products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories.

Allergan is an industry leader in Open Science, the Company's R&D model, which defines our approach to identifying and developing game-changing ideas and innovation for better patient care. This approach has led to Allergan building one of the broadest development pipelines in the pharmaceutical industry with 70+ mid-to-late stage pipeline programs in development.

Our Company's success is powered by our more than 16,000 global colleagues' commitment to being Bold for Life. Together, we build bridges, power ideas, act fast and drive results for our customers and patients around the world by always doing what is right.

With commercial operations in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives everyday.

For more information, visit Allergan's website at www.Allergan.com.

Forward-Looking Statement

Statements contained in this press release that refer to future events or other non-historical facts, including with respect to Allergan's acquisition of LifeCell are forward-looking statements that reflect Allergan's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Allergan's current expectations depending upon a number of factors affecting Allergan's business. These factors include, among others, the difficulty of predicting future clinical results based on prior clinical results; the timing or outcome of FDA approvals or actions, if any; successful integration of the LifeCell acquisition and the ability to realize the anticipate synergies and benefits of the LifeCell acquisition; the impact of competitive products and pricing; market acceptance of and continued demand for Allergan's and LifeCell's products; difficulties or delays in manufacturing; the ability of Allergan to complete the acquisition of LifeCell; and other risks and uncertainties detailed in Allergan's periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan's Annual Report on Form 10-K for the year ended December 31, 2015 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 (certain of such periodic public filings having been filed under the "Actavis plc" name).

SOURCE Allergan plc

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