Allergan to buy Tobira in push for NASH treatments

[September 20, 2016]  (Reuters) - Allergan Plc said it would buy Tobira Therapeutics Inc in a deal worth up to $1.7 billion, to gain access to its experimental therapies for a fatty liver disease called NASH.

Allergan's offer of $28.35 per Tobira share upfront is nearly a whopping 500 percent premium to the stock's close on Monday.

Dublin-based Allergan said Tobira shareholder could get up to $49.84 per share contingent on the company achieving certain milestones.

About 30 percent of people in the United States suffer from fatty liver diseases such as NASH (nonalcoholic steatohepatitis) due to obesity, diabetes and over-indulgent lifestyles, according to the American Liver Foundation.

(Reporting by Natalie Grover in Bengaluru; Editing by Savio D'Souza)

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