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HEALTHCARE
Allergan Inc. has gone to France to tie up a loose end from its $3.2 billion spring buy of Santa Barbara's Inamed Corp.
The Irvine drug maker is paying $217 million in cash to buy Groupe Corneal Laboratories of Paris. Allergan expects to close the deal during the first quarter.
Buying Groupe Corneal gives Allergan worldwide rights to Juvéderm and a range of hyaluronic acid dermal fillers for wrinkles in the lower face.
Allergan already holds the rights to Juvéderm for the U.S., Canada and Australia by way of Inamed.
The company also gets control of the production and development of Juvéderm, which enables Allergan "to gain additional expertise and intellectual property to further develop next generation dermal fillers," the drug maker said in a release.
Allergan plans to sell off Groupe Corneal's eye surgery products, a process already begun by Groupe Corneal.
Four years ago, Allergan spun off its own eye surgery device and contact lens care businesses as Advanced Medical Optics Inc. in Santa Ana.
Juvéderm became the flipside to Allergan's wrinkle remover Botox earlier this year, after the company won a brief acquisition battle to acquire Inamed.