Allergan PLC will buy privately-held Akarna Therapeutics for $50 million and milestone payments on the development of AKN-083, a potential treatment for non-alcoholic steatohepatitis, the pharmaceutical giant said late Tuesday. "The acquisition of Akarna adds to our strategic approach to investing in innovation to advance the treatment of NASH for millions of patients who currently do not have therapeutic options to treat the disease," said Allergan's Chief Executive Brent Saunders in a statement. Non-alcoholic steatohepatitis is a type of disease where fat accumulates in the liver for no apparent reason. Allergan announced earlier Tuesday that it is buying Tobira Therapeutics Inc. , which is developing its own NASH treatment, for $28.35 a share. Allergan edged up 0.4% after hours.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.