Allergan scratches expansion itch with $350 million SkinMedica offer

The end of the year M&A action seems to be on. Botox maker Allergan ($AGN) has agreed to pay $350 million to pick up skin products company, SkinMedica, Bloomberg reports. The announcement came the same day that U.K. consumer goods company Reckitt Benckiser Group said it would be willing to pay $1.4 billion to buy vitamin maker Schiff Nutrition International. That offer was an overbid of the $1.2 billion that drugmaker Bayer already extended for Schiff. The Allergan deal comes as the company is looking at getting out of the Lap-Band weight loss device market, a product that has been controversial and is seeing falling sales. Dermatology drugs and products are a popular area right now. In September, Valeant Pharmaceuticals ($VRX) said it would pay $2.6 billion to buy dermatology specialist Medicis Pharmaceutical. Story | More

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