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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
11/20/201412:41:11Valeant Sets $2 Billion Buyback Plan After Losing Allergan
11/19/201419:15:16For Allergan Suitors, Unorthodox Alliance Proved Unwieldy
11/18/201419:55:17Goldman Hits Mother Lode on Deals
11/18/201418:50:13Ackman Drops Push for Allergan Holder Meeting--2nd Update
11/18/201418:40:32Ackman Drops Push for Allergan Holder Meeting--Update
11/18/201408:07:30Zoetis Unveils $500 Million Buyback Plan
11/17/201420:01:10Deal Boom Feeds on Surging Stocks
11/17/201418:16:19Actavis To Buy Allergan In $66 Billion Deal--5th Update
11/17/201416:28:40Actavis To Buy Allergan in $66 Billion Deal -- 5th Update
11/17/201415:35:37Ackman, Valeant Can't Justify Topping Actavis Bid for Allergan
11/17/201410:16:39Actavis To Buy Allergan In $66 Billion Deal--4th Update
11/17/201410:07:59Actavis To Buy Allergan In $66 Billion Deal--3rd Update
11/17/201410:01:21Actavis To Buy Allergan In $66 Billion Deal--2nd Update
11/17/201409:52:21Actavis To Buy Allergan In $66 Billion Deal--Update
11/17/201409:29:21MARKET SNAPSHOT: U.S. Stocks: Futures Lower; Industrial Production...
11/17/201408:07:11MARKET SNAPSHOT: U.S. Stocks: Futures Lower After Japan Falls...
11/17/201402:57:05Valeant Buys Nicox's Ophtalmic Diagnostics for Up to $20 Million
11/16/201419:54:13Allergan, Actavis Near Deal -- 3rd Update
11/16/201415:39:07Allergan, Actavis Near Deal -- 2nd Update
10/27/201416:37:41MARKET SNAPSHOT: Energy Stocks Sap S&P 500

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