Allergan to acquire Vicept Therapeutics

MALVERN, Pa. & IRVINE, Calif.--(BUSINESS WIRE)-- Vicept Therapeutics and Allergan, Inc. (NYSE:AGN) announced that they have entered into a definitive agreement for Allergan to acquire all of the outstanding shares and assets of the privately-held dermatology company. The agreement, estimated to close in the third quarter of 2011, includes a $75 million cash up-front payment by Allergan plus up to an aggregate of $200 million in payments payable by Allergan contingent upon achieving certain future development and regulatory milestones plus additional payments contingent upon acquired products achieving certain sales milestones.