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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
04/30/201603:03:00Valeant Default Fears 'Cured' -- WSJ
04/30/201603:03:00Sequoia Reopens To New Clients -- WSJ
04/29/201618:01:00Valeant Holder Sequoia Fund Reopens to New Investors -- 2nd Update
04/29/201617:31:00Valeant Holder Sequoia Fund Reopens to New Investors -- Update
04/29/201616:51:19Additional Proxy Soliciting Materials (definitive) (defa14a)
04/29/201613:30:00Valeant Files Overdue Annual Report, Makes Sweeping Board Changes--Update
04/29/201612:43:00Valeant Files Overdue Annual Report, Makes Sweeping Board Changes--Update
04/29/201612:20:00Valeant Holder Sequoia Fund Reopens to New Investors
04/29/201611:06:36Proxy Statement (definitive) (def 14a)
04/29/201610:15:00Valeant Files Overdue Annual Report, Makes Sweeping Board Changes--Update
04/29/201609:31:00Valeant Announces Nominees For Election To Board Of Directors
04/29/201609:31:00Valeant Announces Nominees For Election To Board Of Directors
04/29/201609:13:00Valeant Files Overdue Annual Report, Resolving Risk of Default--Update
04/29/201608:57:00Valeant Files Overdue Annual Report, Resolving Risk of Default--Update
04/29/201608:42:00Valeant Files Overdue Annual Report--Update
04/29/201608:30:00Valeant Files Overdue Annual Report
04/29/201607:45:25Current Report Filing (8-k)
04/29/201607:28:00Valeant Pharmaceuticals Files Annual Report On Form 10-K For...
04/29/201607:26:19Annual Report (10-k)
04/27/201621:50:00Valeant to Make Sweeping Changes to Board

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