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news.Sanofi has completed the divestiture of its dermatology business, Dermik, to Valeant Pharmaceuticals International for $422.5m.
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The transaction covers Dermik assets comprising an aesthetic and therapeutic business in the US and Canada, as well as an aesthetic business worldwide.
Sanofi’s Laval, Canada site, which includes Dermik’s manufacturing facility is also included in the scope of transaction.
Sanofi’s Canadian affiliate, sanofi-aventis Canada, will carry on its operations in greater Montreal.
Canada-based Valeant Pharmaceuticals is focused on the neurology and dermatology therapeutic areas.