Allergan, a leading global biopharmaceutical company, and Zeltiq Aesthetics, a medical technology company, have announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act) has expired with respect to Allergan's proposed acquisition of Zeltiq.
On February 13, 2017, Allergan and Zeltiq entered into a definitive agreement under which Allergan has agreed to acquire Zeltiq. Following the announcement of the transaction, each of Allergan and Zeltiq filed a Notification and Report Form pursuant to the HSR Act with the Antitrust Division of the US Department of Justice and the Federal Trade Commission.
Expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions, including approval by the stockholders of Zeltiq.
Zeltiq is scheduled to hold a stockholder meeting on April 27, 2017 to vote on the proposed transaction, and the companies expect the transaction to be completed shortly thereafter.
Allergan, headquartered in Dublin, Ireland, is a bold, global pharmaceutical company and a leader in a new industry model - Growth Pharma. Allergan is focused on developing, manufacturing and commercializing branded pharmaceuticals, devices and biologic products for patients around the world.
Allergan markets a portfolio of leading brands and best-in-class products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology and anti-infective therapeutic categories.
Allergan is an industry leader in Open Science, the Company's R&D model, which defines our approach to identifying and developing game-changing ideas and innovation for better patient care. This approach has led to Allergan building one of the broadest development pipelines in the pharmaceutical industry with 70+ mid-to-late stage pipeline programs in development.