Allergan, Medytox to Enter Licensing Agreement

Allergan, Inc., AGN and Medytox MMMS today announced that they have entered into a license agreement pursuant to which, upon closing, Allergan will pay Medytox an upfront payment of U.S. $65 million and Medytox will grant Allergan exclusive rights, worldwide outside of Korea, to develop and, if approved, commercialize certain neurotoxin product candidates currently in development, including a potential liquid-injectable product. Pursuant to the agreement, Allergan has also agreed to make additional contingent payments, including up to an aggregate of U.S. $116.5 million upon achieving certain development milestones, up to an aggregate of U.S. $180.5 million upon achieving certain commercialization milestones, and royalties on product sales. The closing of the transaction is contingent on obtaining certain government See full press release