November 17, 2005 |
Cosmetic surgery product maker Inamed Corp. said its board of directors had instructed management to evaluate a proposed $3.2-billion cash-and-stock takeover bid from Botox maker Allergan Inc. that could trump a competing offer. Santa Barbara-based Inamed, which makes breast implants and other cosmetic treatment products, had been in talks to be acquired by Medicis Pharmaceutical Corp. for $2.8 billion in cash and stock. Inamed shares rose $1.51 to $82.79. Medicis shares rose 9 cents to $26.
August 13, 2002 |
Inamed Corp., the maker of a surgical device to treat obesity, said it's reviewing the way it accounted for debt, taxes and warranties for breast implants and may have costs of as much as $10.5 million. The announcement, made after the markets closed, sent shares of the Santa Barbara-based company down as much as $4.19, or 23%, to $14.22 in after-hours trading. They had closed up 11 cents at $18.41 on Nasdaq.
March 10, 2000 |
Inamed Corp.'s former chairman, Donald McGhan, agreed to pay a $50,000 fine to settle charges that the breast-implant maker inflated earnings in 1996 and 1997. McGhan neither admitted nor denied the Securities and Exchange Commission's civil fraud allegations. The SEC alleged that McGhan, 65, while chairman and chief executive of the Santa Barbara-based company, "either knew or was reckless in not knowing" of the false financial reports. He resigned as chairman in February 1998.
May 23, 2003 |
Inamed Corp.'s 2000 agreement with a Johnson & Johnson unit to resolve a patent and royalties dispute over an obesity treatment was a valid contract, a federal appeals court concluded. The appellate court decided that a federal judge in Los Angeles had erred in concluding that the agreement with Dr. Lubomyr Kuzmak and Ethicon Endo-Surgery was not a binding contract, Inamed Vice President Peter Nicholson said. Ethicon is a Johnson & Johnson unit.
January 8, 2004 |
Inamed Corp. of Santa Barbara, a maker of medical devices seeking to sell the first silicone-gel breast implant in the U.S. in 11 years, said it received a "not approvable" letter from the Food and Drug Administration. The letter outlines what information Inamed must provide to the FDA on silicone-gel breast implants, the company said.
April 24, 2004 |
Inamed Corp. and its partner Genzyme Corp. won Food and Drug Administration approval of the Hylaform gel to treat wrinkles around the eyes and mouth. Inamed, which already sells other wrinkle fillers, will compete with Medicis Pharmaceutical Corp.'s Restylane, which won U.S. approval in December. Shares of Santa Barbara-based Inamed rose $2 to $55.50 on Nasdaq. Genzyme shares fell 64 cents to $46.46, also on Nasdaq.