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news.Canada based specialty pharma company Valeant Pharmaceuticals is set to acquire Sanofi's dermatology business unit Dermik for around $425m.
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Dermik’s product portfolio consists therapeutic and aesthetic dermatology brands like: BenzaClin for the treatment of acne, Carac for the treatment of keratoses and Sculptra, a facial injectable for the correction of facial wrinkles and folds.
Under the deal, Valeant will acquire Dermik’s US and Canadian aesthetic and therapeutic businesses and aesthetic business across the world.
Additionally, Valeant will also take over Sanofi’s Laval, Canada site, which includes Dermik’s manufacturing facility.
Following the acquisition, Sanofi-aventis Canada, Canadian affiliate of Sanofi, will take care of the operations of the site.
Sanofi CEO Christopher Viehbacher said this divestiture allows them to rationalize their portfolio and improve focus on their core businesses.
Valeant chairman and CEO Michael Pearson said the manufacturing facility will provide increased capacity for their future growth initiatives in the US and Canada.