On a shopping spree, Allergan bags CoolSculpting tech in $2.5B buyout; Akebia strikes research deal with J&J
• Botox-maker Allergan has bagged a new company for its medical aesthetics portfolio, paying $2.47 billion for Pleasanton, CA-based Zeltiq Aesthetics $ZLTQ. Zeltiq made its rep with what it calls “CoolSculpting” tech, eliminating pockets of fat by cooling down fat cells. Allergan has been on a shopping spree for more than a year now as it builds up a pipeline of new drugs alongside its aesthetics business.
• Akebia $AKBA has gained entry to J&J’s hypoxia-inducible factor compound portfolio, with the right to pick out HIF therapies for development. The deal includes rights to one preclinical drug, JNJ5169, for inflammatory bowel disease. Akebia is paying $1 million upfront to start the deal and committed up to $16.5 million in development milestones and a potential $215 million for commercial goals.
• In a letter to Allergan, the SEC says that it plans to launch an investigation into the ways in which the biopharma industry may be exploiting non-GAAP accounting measures.