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Allergan to buy Kythera Biopharmaceuticals for $2.1 billion

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Acquisition   Allergan will have access to Kybella

Allergan said it will buy Kythera Biopharmaceuticals in a cash-and-stock deal valued at about $2.1 billion, to expand its line of cosmetic treatments.

Buying Kythera will give Allergan access to Kybella, the first and only approved non-surgical treatment to reduce fat under the chin, the companies said.

The equity value of the deal is about $1.94 billion, based on 25.8 million Kythera shares outstanding as of April 6, according to Thomson Reuters calculations.

Allergan said it expected the deal to begin adding to earning per share after 2016.

"The acquisition of Kythera is a strategic investment that strengthens our leading global position in aesthetics and continues to position us for long-term growth," said Allergan Chief Executive Brent Saunders.

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