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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
08/24/201618:20:00Mylan Faces Scrutiny Over EpiPen Price Increases
08/24/201616:45:41Statement of Changes in Beneficial Ownership (4)
08/24/201616:34:17Initial Statement of Beneficial Ownership (3)
08/23/201617:03:35Current Report Filing (8-k)
08/23/201616:56:43Current Report Filing (8-k)
08/23/201603:03:00New CFO Tops Off Shake-Up At Valeant -- WSJ
08/23/201601:00:00Pharming Convene an Extraordinary General Meeting of Shareholders
08/23/201601:00:00Pharming Convene an Extraordinary General Meeting of Shareholders
08/22/201615:32:00Valeant Names Zoetis Executive as Financial Chief--Update
08/22/201615:30:00Valeant Names Zoetis Executive as Financial Chief--Update
08/22/201610:44:00Valeant Names Zoetis Executive as Financial Chief--Update
08/22/201607:30:00Valeant Names Zoetis Executive as CFO
08/22/201607:10:00Valeant Names Zoetis Executive as CFO
08/22/201606:00:00Valeant Pharmaceuticals Appoints Paul S. Herendeen As Executive...
08/22/201606:00:00Valeant Pharmaceuticals Appoints Paul S. Herendeen As Executive...
08/22/201603:03:00Valeant to Tap New CFO, As Shake-Up Continues -- WSJ
08/21/201622:10:00Valeant Hiring Paul Herendeen as New CFO
08/19/201603:04:00Valeant Makes Deal To Loosen Debt Terms -- WSJ
08/18/201616:29:00Valeant Again Able to Loosen Debt Terms -- 6th Update
08/18/201614:43:00Valeant Again Able to Loosen Debt Terms -- 5th Update

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