Allergan explores sale of obesity intervention business
31 Oct 2012
US specialty pharmaceutical company Allergan Inc yesterday said that it was exploring a sale of its obesity intervention business.
The Irvine, California-based company said that it is exploring strategic options for maximising the value of its obesity intervention business, ''including among other things, a potential sale of that business unit.''
For the full year of 2012, Allergan expects obesity intervention product sales to be around $160 million from total sales of between $5.69 billion - $5.77 billion.
The business accounted for about 4 per cent of Allergan's total revenue in 2011.
Allergan has a portfolio of innovative medical devices to support sustained weight loss, reduce health risks associated with obesity like Lap-Band Adjustable Gastric Banding System- the first adjustable medical device for weight loss and the first minimally invasive surgical approach approved in the US by the US Food and Drug Administration.
Approved outside of the US, Allergan's portfolio also includes the Orbera Intragastric Balloon System, which is a non-surgical alternative for the treatment of obesity.