Sandoz acquires generic dermatology specialist Fougera

Sandoz has announced the acquisition of specialty dermatology generics company Fougera Pharmaceuticals for a cash total of $1.53 billion (946.44 million pounds).

The takeover will see Sandoz become the number one generic dermatology medicines developer in the US and globally, complementing its existing status in terms of its biosimilar and generic injectables offerings, plus its anti-infective and ophthalmic ranges.

Fougera generated net sales of $429 million in 2011 and employs around 700 people, with its operations split into the two main businesses of Fougera and PharmaDerm, which offer around 250 product SKUs between them.

Sandoz's presence in more than 130 global markets will help it expand its new subsidiary's commercial base, creating a combined entity with estimated annual global dermatology sales of nearly $620 million.

Jeff George, global head of Sandoz, said: "Fougera brings us valuable technical capabilities in the area of topical dermatological products, particularly in the development and manufacturing of semi-solid forms such as creams and ointments."

According to parent company Novartis' most recent financial report, Sandoz generated sales of around $2.1 billion in the first quarter of the year.