Allergan Signs Agreement for Products From Peptech

Allergan Inc., an Irvine eye care products company, said Wednesday it has signed an option agreement with Peptech Ltd., in England, for development and commercial marketing of products based on a Peptech dermatological product. Allergan will have first rights to license potential applications in the fields of ophthalmology and oncology.

“The collaboration with Peptech is yet another example of establishing strategic partnerships to pursue promising new technologies,” said Richard M. Haugen, Allergan executive vice president and chief operating officer. Allergan will also acquire $2 million worth of new shares in Peptide Technology Limited. The Sydney, Australia, company is Peptech’s major shareholder.