As a result of the transaction, CollaGenex has become a wholly owned subsidiary of Galderma Laboratories. Upon closing of the acquisition, all remaining outstanding shares of CollaGenex common stock, other than those held by stockholders who properly perfect appraisal rights under Delaware law, were converted into the right to receive $16.60 per share in cash.
Humberto Antunes, CEO of Galderma Pharma, said: “We are pleased to complete the acquisition process and are moving forward quickly to combine the two organizations to enable us to better serve dermatologists and the patients they serve. CollaGenex’s oral rosacea therapy will be an important complement to Galderma’s topical products, and the two company’s development pipelines have innovative compounds that have the potential to improve therapy and meet unmet needs.”