Allergan Inc. (NYSE: AGN) will buy SkinMedica Inc. for $350 million in cash.

Allergan could also pay an additional $25 million if sales targets are met.

SkinMedica makes non-prescription topical skin care products. The company also makes a prescription product, Vaniqa, which is FDA approved to reduce unwanted facial hair in women.

Irvine, Calif.-based Allergan, a multi-specialty healthcare company, already owns Botox, Juvederm and Latisse.  

For more on the skin care industry, see "Skin Deep: Cosmetics Go Medical."

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