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Sanofi Sells Dermik Unit To Valeant For $425 Million

PARIS -(Dow Jones)- French pharmaceutical giant Sanofi SA (SAN.FR) said Monday it sold Dermik, its dermatology unit, to Canada-based Valeant Pharmaceuticals International Inc. (VRX) for $425 million in cash. The transaction involves Dermik assets, comprising an aesthetic and therapeutic dermatology business in the U.S. and Canada and an aesthetic dermatology business in other parts of the world, which had sales of $206 million in 2010, Sanofi said. Dermik has a significant presence in the medical dermatology market in the U.S. and Canada, with a strong field force and well-known brands, which include BenzaClin, Carac and Sculptra. Sanofi decided to sell Dermik to focus on its "growth platforms" and "innovation." The French company recently bought U.S. biotech firm Genzyme for $20 billion and a string of smaller firms prior to the Genzyme takeover. The transaction will still have to be cleared by certain antitrust authorities and meet other customary conditions. -By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740; inti.landauro@dowjones.com

Stock News for Valeant Pharma (VRX)
DateTimeHeadline
03/27/201516:10:12Current Report Filing (8-k)
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03/27/201510:09:00Valeant Pharmaceuticals Closes Offering Of $1.45 Billion Of Common...
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03/17/201519:03:08Valeant prices equity offering
03/17/201509:00:00Valeant Pharmaceuticals Prices Offering Of $1.45 Billion Of Common...
03/17/201509:00:00Valeant Pharmaceuticals Prices Offering Of $1.45 Billion Of Common...
03/16/201519:47:24Valeant Raises Offer To $173/Share In New Deal for Salix--6th...
03/16/201519:36:19Valeant Raises Offer To $173/Share In New Deal for Salix--6th...
03/16/201516:33:31Valeant Raises Offer To $173/Share In New Deal for Salix--6th...
03/16/201516:23:51Valeant Raises Offer To $173/Share In New Deal for Salix--6th...
03/16/201516:22:21Valeant Raises Offer To $173/Share In New Deal for Salix--5th...

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