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."