Allergan, Inamed enter confidentiality agreement

Allergan Inc., and Inamed Corp. have entered into a confidentiality agreement. On Nov. 21, Allergan reported that it expects the two companies will begin to exchange non-public information that day.

In mid-November, Allergan proposed to acquire Inamed Corp. for $84 per share or 0.8498 of a share of Allergan common stock. The offer and withdrawal rights are scheduled to expire at midnight on Dec. 20, 2005, subject to an extension or termination.

The two companies have complementary portfolios in the medical aesthetic products industry. Inamed's aesthetic brand names include various dermal fillers that complement Allergan's botulinum toxin type A (Botox Cosmetic). Inamed fits into Allergan's focus on high-growth specialty markets and leadership in specialty pharmaceuticals, and Inamed creates cross-marketing and cross-selling opportunities to medical aesthetic specialists, plastic surgeons, and dermatologists.