SkinMedica Acquired By Allergan For $375M

Carlsbad-based SkinMedica, the developer of aesthetic medicine products, is being acquired by Irvine-based Allergan in a $350M deal, the two said today. Allergan said it will buy SkinMedica $350M up front, plus up to $25M based on future sales goals. The deal does not include the SkinMedica Colorescience aesthetic make-up line, which the two said will be spun out by SkinMedica into a new business. SkinMedica was venture backed by Apax Partners, Domain Associates, EuclidSR Partners, HealthCare Ventures, Montagu Newhall Associates, Montreux Equity Partners, Perseus-Soros BioPharmaceutical Fund, Split Rock Partners, St. Paul Venture Capital, and Versant Ventures. Allergan said it will run SkinMedica as a separate, global business.