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BUSINESS
January 10, 2006
* Allergan Inc. of Irvine, which is buying Santa Barbara-based Inamed Corp. for $3.42 billion, said it was extending the expiration date of its exchange offer for all outstanding shares of Inamed stock. The offer now will expire at 5 p.m. Eastern time Jan. 24, Allergan said.
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BUSINESS
February 7, 2006
* A federal court in New Jersey awarded $112 million in damages to Texas Instruments Inc. of Dallas in its patent infringement case against Conexant Systems Inc. of Newport Beach. A Conexant unit infringed three patents related to digital subscriber line technology, the court found. * Virgin America Inc. said it named as its chairman Don Carty, the former chairman and chief executive of AMR Corp. * Allergan Inc. extended the deadline for investors to trade in their Inamed Corp.
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BUSINESS
August 16, 2002 | Bloomberg News
Inamed Corp., a medical device company that disclosed an accounting review this week, said it has named Robert S. Vaters its chief financial officer. Vaters, 42, replaces interim CFO Declan Daley, who will remain controller and principal accounting officer, the company said. Vaters was chief operating officer at telecommunications company Arbinet Holdings Inc. and is a former CFO of Premiere Technologies, Inamed said.
BUSINESS
January 24, 2006 | From Reuters
Botox maker Allergan Inc. said it was extending its $3.2-billion offer to buy breast implant maker Inamed Corp. because it had yet to get antitrust clearance from regulators. The offer is now set to expire at 8 p.m. on Feb. 7; it had been set to expire today. Irvine-based Allergan and Santa Barbara-based Inamed said they were working with the Federal Trade Commission to complete the sale of Inamed's license for Reloxin, a botulism toxin product.
BUSINESS
November 17, 2005 | From Associated Press
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.
BUSINESS
August 13, 2002 | Bloomberg News
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.
BUSINESS
March 10, 2000 | From Bloomberg News
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.
BUSINESS
May 23, 2003 | From Bloomberg News
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.
BUSINESS
March 17, 2005 | From Reuters
Inamed Corp. said Wednesday that U.S. regulators had started a formal investigation into its disclosures about one style of its silicone gel-filled breast implant products. The Santa Barbara-based company said in its annual report that it received notification of the Securities and Exchange Commission investigation on Feb. 24 and that it intended to cooperate fully.
BUSINESS
January 8, 2004 | From Bloomberg News
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.
BUSINESS
December 21, 2005 | From Bloomberg News
Irvine-based Allergan Inc., maker of the Botox anti-wrinkle treatment, agreed to buy Santa Barbara-based Inamed Corp., which last week ended an agreement to be acquired by Medicis Pharmaceutical Corp., for $3.42 billion in cash and stock. Inamed shareholders would get either $84 in cash or 0.85 Allergan share per Inamed share, or an equivalent combination of stock and cash. Forty-five percent of the deal would be in cash and 55% in stock. The deal is expected to close in January.
BUSINESS
December 16, 2005 | From Reuters
Inamed Corp. said its board had unanimously approved Botox maker Allergan Inc.'s $3.2-billion offer in a deal that would allow Allergan to expand its wrinkle-treatment product line. Inamed, which also makes breast implants, said it hadn't signed the agreement, which wouldn't be finalized until Irvine-based Allergan said it was satisfied with its investigation of Inamed's wrinkle smoother Juvederm. Santa Barbara-based Inamed this week agreed to pay a $90-million breakup fee to end its $2.
BUSINESS
December 14, 2005 | From Bloomberg News
Medicis Pharmaceutical Corp. ended its agreement to acquire Inamed Corp. on Tuesday, allowing rival bidder Allergan Inc. of Irvine to proceed with a $3.42-billion buyout offer. Santa Barbara-based Inamed, which makes breast implants, paid a termination fee of $90 million to end an agreement reached March 20, Medicis officials said. Allergan, the maker of Botox anti-wrinkle treatment, announced its competing offer Nov. 15. Medicis dropped its bid, currently valued at $2.
BUSINESS
December 7, 2005 | From Associated Press
Cosmetic surgery product maker Inamed Corp. said Tuesday that its board of directors had concluded that a proposed $3.2-billion takeover bid from Botox maker Allergan Inc. was superior to an earlier offer it had accepted from Medicis Pharmaceutical Corp. But Inamed said it would remain neutral on the Allergan offer, abstaining from making any recommendations to its shareholders, until its pending pact with Medicis was terminated.
BUSINESS
November 23, 2005 | From Reuters
Wrinkle treatment maker Medicis Pharmaceutical Corp., which is seeking to buy breast implant maker Inamed Corp. of Santa Barbara, said Tuesday that it asked Inamed's board to rally shareholders to reject a sweeter offer from Allergan Inc., the Irvine-based maker of Botox wrinkle smoother. Investors read the move as largely procedural in the unfolding battle for control over products that erase the signs of aging.
BUSINESS
November 21, 2005 | From Reuters
Mentor Corp. said Sunday that it had made an unsolicited takeover offer for Medicis Pharmaceutical Corp., a Scottsdale, Ariz., drug maker that is embroiled in a bidding war of its own for Inamed Corp. Official word of the all-stock bid, which Mentor said valued Medicis at $2.2 billion, came after Medicis released a statement saying its board had received an offer from Mentor and unanimously rejected it.
BUSINESS
April 24, 2004 | From Bloomberg News
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.
BUSINESS
December 16, 2005 | From Reuters
Inamed Corp. said its board had unanimously approved Botox maker Allergan Inc.'s $3.2-billion offer in a deal that would allow Allergan to expand its wrinkle-treatment product line. Inamed, which also makes breast implants, said it hadn't signed the agreement, which wouldn't be finalized until Irvine-based Allergan said it was satisfied with its investigation of Inamed's wrinkle smoother Juvederm. Santa Barbara-based Inamed this week agreed to pay a $90-million breakup fee to end its $2.
BUSINESS
November 17, 2005 | From Associated Press
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.
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