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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
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04/24/201409:41:09U.S. Hot Stocks: Hot Stocks to Watch
04/23/201417:37:58Three Valeant Directors Won't Be Nominated for Re-Election...
04/23/201409:12:27Ackman: Poison Pill Is Way for Allegan to Explore Alternatives...
04/22/201420:09:21Allergan Pursuer Valeant: A Drug Maker With Little Patience for...
04/22/201418:18:04Valeant Pharmaceuticals Is a Popular Play Among Hedge Funds...
04/22/201417:30:11MARKET SNAPSHOT: U.S. Stocks Gain; S&P 500 Extends Streak To...
04/22/201415:04:46Ackman Warns Allergan Against Saying No to Valeant Offer
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04/22/201413:44:03Novartis Overhauls Portfolio With Deals Worth $25 Billion...
04/22/201413:36:50Valeant, Ackman Propose Allergan Deal -- 7th Update
04/22/201412:11:36ValueAct CEO: Allergan and Valeant are Perfect Match -CNBC
04/22/201411:59:49Valeant, Ackman Propose Allergan Deal -- 6th Update
04/22/201410:23:35Valeant, Ackman Propose Allergan Deal -- 5th Update
04/22/201408:44:13Valeant, Ackman Propose Allergan Deal -- 4th Update
04/22/201406:21:34AstraZeneca Helps Boost European Shares
04/07/201403:39:11Meda and Valeant Terminate Joint Ventures
03/13/201417:52:06Anacor Pharmaceuticals Swings to a Profit
01/14/201406:11:37Valeant, Actavis, Mylan Said Interested in Buying Pfizer's Generics...

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