Allergan trims off fat-busting portfolio to Apollo
This article was originally published in Clinica
Allergan has found a buyer for its underperforming obesity device business, nearly a year after putting it on the block. Austin, Texas-based Apollo EndoSurgery has definitively agreed to acquire the division, responsible for manufacturing and selling Allergan’s Lap-Band adjustable gastric band system and the Orbera intragastric balloon system, for up to $110m. The final consideration comprises a $75m upfront cash payment, a $15m stake in Allergan, and up to $20m in milestone payments linked to regulatory and sales targets.