Allergan Inc (Irvine, Calif), maker of Botox and other drugs, has bought a cosmetic surgery firm located in Medford, Mass. Serica Technologies Inc’s cosmetic surgery unit makes biodegradable, silk mesh scaffolds that are used to help regenerate human tissue. Its products are used in skin grafting, breast augmentation and reconstructive surgery.
The CEO of Allergan says it will strengthen its sales pipeline via the purchase. Chief Executive David Pyott announced the news at Allergan’s earnings update last week.
The company plans to fold Serica into its breast implant unit, which accounted for $77.8 million in revenue in the fourth quarter of 2009, up 10% from 2008’s fourth quarter. Serica will continue to operate out of its office, R&D, and manufacturing plant in Medford.
Allergan’s buy of Serica didn’t include rights to the latter’s orthopedic or veterinary products, which were spun off into a separate company, Alacer Biomedical Inc.
[Source: Allergan/Orange County Register]