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Home Industry News Sanofi sells off Dermik to Valeant Pharmaceuticals

Sanofi sells off Dermik to Valeant Pharmaceuticals

11th July 2011

Sanofi has announced the sale of its dermatology business unit Dermik to Valeant Pharmaceuticals in a deal worth $425 million (266.1 million pounds).

The strategic divesture has been undertaken to allow Sanofi to focus more on its key growth markets, while Dermik will benefit from becoming part of a more dermatology-oriented company.

Dermik is a key player in the medical dermatology market and is responsible for brands such as BenzaClin, Carac and Sculptra, as well as operating a global aesthetics business.

The sale – which remains subject to customary closing conditions – will also encompass the transfer of Sanofi's Laval site in Canada, the home of Dermik's manufacturing facility.

Christopher Viehbacher, chief executive officer of Sanofi, said: "Our strategy is based upon our growth platforms and innovation. This divestiture allows us to rationalise our portfolio and improve focus on our core businesses."

Last month, the company moved to further support its future growth efforts via the appointment of Peter Guenter as the new senior vice-president of its European operations.ADNFCR-8000103-ID-800617231-ADNFCR

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