07.12.11
Sanofi has sold its Dermik dermatology business to Valeant Pharmaceuticals International in a $425 million deal.
Based in Mississauga, Ontario, Canada,Valeant is apharmaceutical company thatalso sells and owns consumer and OTC products including Hissyfit, an anti-aging skin care line,Dr. LeWinn's Private Formula, a premium skin care line, and Revitanail (Renunail in the U.S. and United Kingdom), a line of nail strengtheners. Its stable also includes Private Formula International Holdings Pty Limited, a leading skin care company in Australia and New Zealand and Reef skin care in Australia.
Dermik has a significant presence in the medical dermatology market in the United States and Canada with a strong field force and well-known brands. Dermik’s portfolio includes leading therapeutic and aesthetic dermatology brands such as BenzaClin for the treatment of acne and Sculptra, a facial injectable for the correction of facial wrinkles and folds.
The scope of this transaction includes Dermik assets, which consist of an aesthetic and therapeutic business in the US and Canada, as well as an aesthetic business around the world with sales of $206 million in 2010. Also included in the scope is Sanofi’s Laval, Canada site, which includes Dermik’s manufacturing facility.
Sanofi’s Canadian affiliate, sanofi-aventis Canada, will maintain its operations in greater Montreal, the company said.