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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
06/21/201619:49:50Statement of Changes in Beneficial Ownership (4)
06/21/201619:31:17Initial Statement of Beneficial Ownership (3)
06/21/201619:23:54Initial Statement of Beneficial Ownership (3)
06/21/201619:16:38Initial Statement of Beneficial Ownership (3)
06/21/201617:03:52Current Report Filing (8-k)
06/17/201608:00:00Valeant Pharmaceuticals Announces Significant Investments In...
06/17/201608:00:00Valeant Pharmaceuticals Announces Significant Investments In...
06/16/201608:00:00Valeant Pharmaceuticals Announces Launch Of New PreserVision®...
06/16/201608:00:00Valeant Pharmaceuticals Announces Launch Of New PreserVision®...
06/15/201615:49:20Current Report Filing (8-k)
06/15/201608:00:00Valeant Pharmaceuticals Appoints Thomas W. Ross, Sr. Lead Independent...
06/15/201608:00:00Valeant Pharmaceuticals Appoints Thomas W. Ross, Sr. Lead Independent...
06/13/201617:06:17Statement of Changes in Beneficial Ownership (4)
06/13/201606:49:02Statement of Changes in Beneficial Ownership (4)
06/10/201617:04:18Amended Statement of Beneficial Ownership (sc 13d/a)
06/09/201617:40:00Valeant To Participate In FDA Advisory Committee Meeting On July...
06/09/201617:40:00Valeant To Participate In FDA Advisory Committee Meeting On July...
06/08/201603:03:00Valeant Slashes Guidance Again -- WSJ
06/07/201618:34:00Valeant Shares Drop on Another Deep Cut to Guidance--8th Update
06/07/201617:18:12Quarterly Report (10-q)

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