Allergan buys Aczone from QLT

Allergan (NYSE:AGN) acquired worldwide rights to Aczone dapsone topical gel to treat acne vulgaris from QLT (TSX:QLT; NASDAQ:QLTI) for $150 million in cash. The gel is approved in the U.S. and Canada but not yet marketed. Allergan said it plans to launch the product in both countries in 4Q08. Goldman Sachs advised QLT on the deal, which is expected to close next quarter. The sale comes as part of a restructuring announced by QLT earlier this year (See BioCentury Extra, Thursday, Jan. 17, 2008). ...