Al­ler­gan buys an ail­ing Re­pros, bag­ging a women’s health drug for the pipeline

Af­ter a lengthy deal spree, Al­ler­gan $AGN is go­ing shop­ping in the pen­ny stock aisle.

The com­pa­ny says it has struck a deal to buy out Re­pros $RPRX and its trou­bled late-stage drug for uter­ine fi­broids and en­dometrio­sis, held up by a par­tial hold at the FDA as reg­u­la­tors main­tain de­mands for sig­nif­i­cant­ly more safe­ty da­ta.

The ac­qui­si­tion comes with an of­fer of 67 cents a share.

The biotech, based in The Wood­lands, TX, has been strug­gling for years, with a low T ther­a­py that aimed for an ap­proval just as the agency was rais­ing the bar on safe­ty on testos­terone treat­ments. Last sum­mer Re­pros sig­naled that it re­mained in trou­ble on Proellex, with reg­u­la­tors de­mand­ing a big­ger tri­al with a broad­er fo­cus on safe­ty for their drug to treat uter­ine fi­broids.

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