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Allergan Adds Migraine Treatment with purchase of MAP Pharmaceuticals

Allergan today (23/1/13) said that it would buy US based MAP Pharmaceuticals in a $958m acquisition. Allergan is purchasing MAP Pharmaceuticals in cash and has paid a 60% premium on the closing share price of MAP. Allergan expects the deal to dilute 2013 earnings by about 7 cents a share and begin to add revenue in H2 2014. The purchase follows on from a collaboration agreement Allergan and MAP made in January 2011 to co-promote Levadex in the US and Canada.

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