Allergan acquires Tobira Therapeutics for $1.695 billion and with it cenicriviroc and evogliptin

Allergan plc and Tobira Therapeutics, Inc. announced that they have entered into a definitive agreement under which Allergan will acquire Tobira for an upfront payment of $28.35 per share, in cash, and up to $49.84 per share in Contingent Value Rights (CVRs) that may be payable based on the successful completion of certain development, regulatory and commercial milestones, for a total potential consideration of up to $1.695 billion. The Boards of Directors of both companies have unanimously approved the transaction.The acquisition adds Cenicriviroc (CVC) and Evogliptin, two differentiated, complementary development programs for the treatment of the multi-factorial elements of NASH (non-alcoholic steatohepatitis), including inflammation, metabolic syndromes and fibrosis, to Allergan's global Gastroenterology R&D pipeline.