Allergan Plc (NYSE:AGN) went on a shopping spree yesterday when it was reported to have bought a couple of companies that develop treatments for nonalcoholic liver disease, also known as nonalcoholic steatohepatitis (NASH), a liver disease where the liver is damaged and inflamed caused by a significant amount of fatty build up. The acquisitions have given the company a prefabricated pipeline of the hottest areas in biotechnology.

Allergan Plc stated that it would acquire Tobira Therapeutics Inc. for an incredible $1.7 billion, gaining the company’s experimental drug for NASH. The news broke before the market opened. Just after the market had closed on the same day, Allergan had announced its acquisition deal to buy Akarna Therapeutics Ltd., for $50 million. The said company is also developing treatments for the liver disease nonalcoholic steatohepatitis.

NASH affects 2% -5% of the Americans. According to the US National Institutes of Health, the disease is becoming more common in accordance with the rising rates of obesity in the country. NASH necessitates a liver transplant when conditions get serious. The acquisition of Tobira Therapeutics Inc. had a 498% premium in comparison to the company’s stock price of $38.91 at closing the day before.

Allergan on a Shopping Spree

Allergan Plc has been acquiring a number of assets which range from small to mid-sized. According to Saunders, during the previous month, the company does not need to do “big M&A”, authenticating an alternated deal-making strategy following the fall of its previously prepared merger with Pfizer Inc.(NYSE:PFE) which amounts to $160 billion.

Allergan is making its 3rd and 4th acquisition with Tobira Therapeutics Inc. and Akarna Therapeutics Ltd. after it acquired RetroSense Therapeutics LLC, an ophthalmology gene-therapy firm, for $60 million on September 9, 2016 and Vitae Pharmaceuticals Inc., a dermatology medicine manufacturer, for $630 million on September 14, 2016.