Allergan to Purchase Kythera Biopharmaceuticals for $2.1 Billion

Allergan Plc, the maker of wrinkle treatment Botox, agreed to buy Kythera Biopharmaceuticals Inc. for about $2.1 billion to add treatments for double chins and male pattern baldness.

The cash and stock transaction values Kythera at $75 a share, the companies said June 17 in a statement. That’s about 24 percent above Kythera’s stock price at the close of trading on June 16 in New York.

Kythera makes an injection that is the only approved nonsurgical treatment for a double chin. That therapy was approved in the U.S. in April 13 PLIR 631, 5/1/15. Allergan also will gain an ...