Irvine-based Allergan Inc. beat out Arizona’s Medicis Pharmaceutical Corp. in a bidding war for Inamed Corp. Now the two are set to face off in the war against wrinkles.
Medicis said Tuesday it signed a contract with France’s Ipsen Ltd. to acquire the U.S. rights to Reloxin, a rival to Allergan’s Botox wrinkle remover.
Reloxin isn’t yet approved in the U.S.
Santa Barbara-based Inamed is giving up the rights to Reloxin as part of its acquisition by Allergan. The move was seen as essential to getting regulatory approval for the deal.
The Medicis deal for Reloxin is subject to the closing of Allergan’s $3.2 billion buy of Inamed.
Early last year, Medicis bid $2.8 billion for Inamed, a maker of skin products, breast implants and obesity treatments.
Then late last year Allergan swooped in with its bigger offer.
Earlier this month, regulators signed off on the deal. Allergan has acquired 83% of Inamed’s shares and recently extended its offer to acquire 90% or more.
