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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
05/27/201611:46:00Correction to Valeant CEO Article on April 21
05/26/201621:00:00Valeant Rejected Joint Takeover Approach From Takeda, TPG
05/26/201607:00:00Valeant Pharmaceuticals Names Sam Eldessouky Senior Vice President...
05/26/201607:00:00Valeant Pharmaceuticals Names Sam Eldessouky Senior Vice President...
05/25/201613:00:00Pharming Reports on Annual General Meeting of Shareholders Pharming's...
05/24/201618:28:00SEC Reviewed Valeant's Use of 'Non-GAAP' Financial Measures...
05/24/201617:09:13Additional Proxy Soliciting Materials (definitive) (defa14a)
05/24/201614:30:00SEC Reviewing Valeant's Use of 'Non-GAAP' Financial Measures
05/24/201614:22:00SEC Reviewing Valeant's Use of 'Non-GAAP' Financial Measures
05/23/201607:00:00Bausch + Lomb Wins Walmart "Supplier of the Year" Award
05/23/201607:00:00Bausch + Lomb Wins Walmart "Supplier of the Year" Award
05/20/201618:20:00Valeant Investor Sequoia Fund to Limit Stakes in a Single Stock
05/20/201616:20:26Current Report Filing (8-k)
05/20/201606:07:08Current Report Filing (8-k)
05/19/201618:00:00Valeant Pharmaceuticals Receives Notice Of Default From Bondholders
05/19/201618:00:00Valeant Pharmaceuticals Receives Notice Of Default From Bondholders
05/18/201615:15:00Valeant Pharmaceuticals To Participate At The UBS Global Healthcare...
05/18/201615:15:00Valeant Pharmaceuticals To Participate At The UBS Global Healthcare...
05/18/201601:00:00Pharming Group: Interim Report on Financial Results for Q1 2016
05/16/201623:20:00Perrigo Updates First-Quarter Loss Figure to Reflect Lower Tax...

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