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Home Industry News Galderma Pharma to buy CollaGenex

Galderma Pharma to buy CollaGenex

28th February 2008

Galderma Pharma has signed an agreement to acquire the US firm CollaGenex Pharmaceuticals in a $420 million (213 million pound) deal.

The Swiss pharmaceutical company announced the merger after both boards of directors gave their approval for the takeover.

Galderma’s chief executive officer Humberto Antunes said that the move highlighted the company’s commitment in providing innovative solutions to dermatology patients and physicians.

“CollaGenex’s innovative products complement and enhance Galderma’s portfolio. We admire the accomplishments of CollaGenex’s employees and believe our combined organisations will be even better positioned to serve patients’ needs,” he added.

Galderma’s move to acquire CollaGenex was informed largely by the US firm’s flagship product Oracea (doxycycline) which is the first FDA-approved product indicated for the treatment of rosacea – an inflammatory condition of the face.

CollaGenex is also currently in phase II development of a new drug candidate Col-118 to treat erythema associated with rosacea.

Colin Stewart, president of CollaGenex, confirmed that Oracea combined with the successful development of Col-118 would “offer physicians and patients a full suite of complementary pharmaceutical products to treat rosacea”.

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