Allergan (NYSE:AGN), the maker of wrinkle-filler Botox, said on Tuesday that it has agreed to buy regenerative medicine company LifeCell for $2.9bn in cash.
Allergan said LifeCell, whose soft-tissue regeneration products are used in breast surgeries, is expected to generate some $450mln in revenue for 2016 and will help boost its own range of plastic surgery products.
The pharma giant pledged eight months ago after its failed $160bn merger with Pfizer (NYSE:PFE) to boost growth through smaller bolt-on acquisitions.
Allergan shares were down 0.6% at $191.47 on Tuesday.