Allergan Acquires Taris Holdings' Lead Program

By Dow Jones Business News, 
A A A


Allergan Inc. ( AGN ) has bought global rights to Taris Holdings LLC's lead program for $67.5 million in cash upfront and about $225 million in commercial milestone payments, the companies said Wednesday.

The program, LiRIS, is currently in Phase 2 trials for the treatment of interstitial cystitis, also known as bladder pain syndrome, which manifests as pain, pressure or burning in the bladder.

"The acquisition of LiRIS(R) is an important addition to our growing urology pipeline and, if approved, will provide a local treatment for interstitial cystitis/bladder pain syndrome, which is a debilitating bladder condition," said David E.I. Pyott, Allergan's board chairman and chief executive officer.

Taris President and CEO Purnanand Sarma said the company will now focus on new applications of its technology, including new treatments for bladder cancer and other urology areas.

Allergan's shares, flat in recent after-hours trading, closed at $154.90. Through Wednesday's closing, the company's stock was up 39% for the year.

Write to Maria Armental at maria.armental@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


  (END) Dow Jones Newswires
  08-13-141755ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: News Headlines

Referenced Stocks: AGN

Dow Jones Business News


More from Dow Jones Business News:

Related Videos

Stocks

Referenced

67%

Most Active by Volume

72,087,899
  • $5.54 ▼ 16.57%
46,603,543
  • $17.0578 ▲ 1.72%
39,307,031
  • $41.80 ▼ 1.85%
15,925,411
  • $102.0801 ▲ 0.49%
14,491,124
  • $4.485 ▲ 15.59%
13,456,178
  • $26.27 ▲ 0.84%
12,904,690
    $7.10 unch
12,651,161
  • $17.55 ▼ 0.34%
As of 9/18/2014, 11:46 AM