Irvine-based Allergan Inc. saw its $3.2 billion offer for Santa Barbara’s Inamed Corp. approved by directors of the cosmetic surgery products maker on Thursday.
Terms of the deal haven’t been sealed yet as Allergan still is looking into Inamed’s wrinkle-reducing Juvederm product. Allergan said it hopes to wrap up its buy of Inamed in the first quarter.
The board approval came after Inamed earlier this week agreed to pay a $90 million breakup fee to Arizona’s Medicis Pharmaceutical Corp. to end its earlier $2.5 billion buyout pact.
