Allergan preludes major selloffs with $650M Almirall dermatology sale

Allergan, which is shopping assets to help turn its stock price around, has taken its first small step into selloff-land.

Spain’s Almirall said Friday it had agreed to pick up a portfolio of medical dermatology products from the Dublin drugmaker for up to $650 million in cash, with $550 million of that sum coming up front.