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Allergan Acquires Chase Pharmaceuticals
November 23, 2016
Allergan (Dublin Ireland) announced that it has completed the acquisition of Chase Pharmaceuticals Corporation (Washington, DC) - a clinical-stage biopharma company focused on the development of treatments for neurodegenerative disorders -in a deal potentially worth $1 billion.
In order to expand its CNS R&D pipeline and "build on [its] commitment to Alzheimer's Disease", Allergan acquired Chase for an upfront payment of $125 million and additional potential regulatory and sales milestone payments related to Chase's lead compound, CPC-201, and certain backup compounds.
As part of the deal, the British subsidiary of India's Cipla has sold its 16.7% stake in Chase Pharmaceuticals to Allergan.
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