Sanofi has said it is to sell its Dermik dermatology unit to Canada-based Valeant Pharmaceuticals for $425m
Sanofi has said it is to sell its Dermik dermatology unit to Canada-based Valeant Pharmaceuticals for $425m.
Dermik operates in the US and Canada, and has a portfolio that includes Benzaclin (benzoyl peroxide/clindamycin) for the treatment of acne; Carac (fluorouracil cream) for the treatment of keratoses; and Sculptra (poly-L-lactic acid), a facial injectable for wrinkles.
Valeant will obtain all Dermik assets, including available inventories of approximately $18m, which consist of an aesthetic and therapeutic business in the United States and Canada, as well as a widely dispersed aesthetic business around the world.
Valeant will also acquire Sanofi's manufacturing site in Laval, Canada.
Sanofi said it has decided to sell its dermatology business to concentrate on other areas of growth.
"This divestiture allows us to rationalise our portfolio and improve focus on our core businesses," said Christopher A Viehbacher, CEO, Sanofi. "Our manufacturing operations in Laval and our field operations teams will benefit from Valeant's stronger presence in dermatology."