Who bought zeltiq?
AllerganAllergan is buying Zeltiq Aesthetics and its CoolSculpting fat reduction technology in a $2.475 billion, all-cash transaction that's expected to close in the second half of 2017. The acquisition strengthens Allergan's prospects in the $4 billion body contouring global market.
Is zeltiq an Allergan?
Zeltiq Aesthetics is a subsidiary of Allergan based in Pleasanton, California that markets and licenses devices used for cryolipolysis procedures. The company was founded in 2005 and raised $75 million in funding before going public in 2011. It was acquired by Allergan in 2017.
Is CoolSculpting owned by Allergan?
Allergan plc (NYSE: AGN), a leading global pharmaceutical company, acquired ZELTIQ back last April in 2017. This also means that Allergan acquired ZELTIQ's CoolSculpting technology.
Who makes Coolsculpt?
Allergan®The procedure is developed by Allergan®, and currently, the FDA has only approved this CoolSculpting® machine for cryolipolysis. 3.
What is Zeltiq procedure?
Zeltiq CoolSculpting is the body contouring procedure used to eliminate fat cells by using extremely cold temperatures. This technique is a noninvasive and popular procedure for body sculpting encompassing the advantages of cryolipolysis for the removal of stubborn and unwanted deposits of fat.
How much did Allergan pay for CoolSculpting?
$2.48 billionBotox maker Allergan is spending about $2.48 billion to buy Zeltiq Aesthetics Inc. and its CoolSculpting system for reducing fat. Allergan said it will pay $56.50 for each share of Zeltiq in a deal it expects to close in the second half of this year.
Is CoolSculpting elite FDA approved?
CoolSculpting® Elite is FDA cleared to treat visible fat bulges in nine areas of the body including the thigh, abdomen, and flank, along with bra fat, back fat, underneath the buttocks (also known as banana roll), upper arm, and the submental and submandibular areas.
Is Allergan part of Abbvie?
We discover and develop innovative medicines for tomorrow, while helping people live better lives today. For legacy Allergan Healthcare providers, Patients and Caregivers, submit inquiry here.
How much is a CoolSculpting machine?
A professional cryolipolysis machine may cost only $5,000 to $6,000, but for each treatment, the fees can be $1,000 to $2,000 per treatment, or even $2,000 to $3,000 for each body part. As long as we have dozens of customers in the beauty salon, we can recover the cost and make money fast.
What they don't tell you about CoolSculpting?
As Coolsculpting is a procedure for removing stubborn fat, it is not effective if you're hoping to rid your body of excess or loose skin. In fact, the amount of fat loss caused by CoolSculpting is not enough to cause sagging, excess skin.
Is CoolSculpting effective?
So while not completely effective 100 percent of the time, CoolSculpting is relatively effective for the general population. Just keep in mind that individual barometers of “effective” may vary, especially when it comes to the amount of fat lost.
How long has CoolSculpting been around?
CoolSculpting has been in use for almost 10 years, first earning its FDA-cleared status in 2010 to treat love handles (flanks). FDA clearance requires that a medical treatment undergo rigorous clinical trials and demonstrate safe, consistent results.
How much did Zeltiq make in 2017?
With Zeltiq's 2017 revenue expected to come in at around $419 million, Allergan appears to have struck yet another winning deal for its shareholders. Upon closing, this acquisition should provide an immediate -- albeit modest -- boost to the drugmaker's top line later this year.
Does Allergan use CoolSculpting?
Allergan's interest in Zeltiq centers around its CoolSculpting system that basically freezes fat cells and allows them to be eliminated naturally. Per its promotional materials, Zeltiq estimates that at least 29 million patients in the U.S. are interested in being treated with the CoolSculpting system in order to remove stubborn layers of fat that won't respond to dieting or exercise. If that line holds, this novel medical device would turn out be a significant revenue generator for Allergan in the years to come.
How are hedge funds trading Zeltiq Aesthetics Inc (NASDAQ:ZLTQ)?
At the end of the third quarter, a total of 22 of the hedge funds tracked by Insider Monkey were long this stock, a 16% rise from one quarter earlier, though hedge fund ownership remains well below where it was three quarters prior.
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