08.11.17
Crescita Therapeutics Inc., a commercial dermatology company with a portfolio of non-prescription skin care products and prescription drug products, today announced that its wholly owned subsidiary, Intega Skin Sciences has acquired the Alyria skin care line of products from Sanofi Consumer Health Inc. Alyria is a high-quality, non-prescription, line of medical skin care products sold into medical spas. The product is said to be highly complementary to Intega's Pro-DermT product offering and will be sold through Crescita's existing sales force.
Crescita purchased Alyria for cash consideration of $1.7 million, consisting of a combination of fixed cash installments, of which $0.8 million will be paid in 2017, as well as a royalty agreement based on a threshold of annual net sales of Alyria over a nine-year period starting in 2020.
According to Crescita, key benefits of the transaction include:
• Immediately accretive to revenue and gross margin for Crescita;
• Products are complementary to its Laboratoire Dr RenaudT and Pro-Derm brands with offerings in areas not currently part of Intega's portfolio;
• Broadens Crescita's customer base with the potential for growth of existing products to new customers;
• Products will be sold and marketed through Crescita's current sales and marketing teams; and
• Manufacturing for some of the Alyria products will be transferred to Crescita's Laval facility.
"This acquisition provides Crescita with a number of immediate benefits, including synergies in leveraging our sales and marketing infrastructure and know-how, increasing our manufacturing capacity utilization and increasing our product offering to international markets. In addition, we gain more than 200 new customers to expand the sales reach of our existing product lines," said Serge Verreault, Crescita's president.
Crescita purchased Alyria for cash consideration of $1.7 million, consisting of a combination of fixed cash installments, of which $0.8 million will be paid in 2017, as well as a royalty agreement based on a threshold of annual net sales of Alyria over a nine-year period starting in 2020.
According to Crescita, key benefits of the transaction include:
• Immediately accretive to revenue and gross margin for Crescita;
• Products are complementary to its Laboratoire Dr RenaudT and Pro-Derm brands with offerings in areas not currently part of Intega's portfolio;
• Broadens Crescita's customer base with the potential for growth of existing products to new customers;
• Products will be sold and marketed through Crescita's current sales and marketing teams; and
• Manufacturing for some of the Alyria products will be transferred to Crescita's Laval facility.
"This acquisition provides Crescita with a number of immediate benefits, including synergies in leveraging our sales and marketing infrastructure and know-how, increasing our manufacturing capacity utilization and increasing our product offering to international markets. In addition, we gain more than 200 new customers to expand the sales reach of our existing product lines," said Serge Verreault, Crescita's president.