Nestle launches skin health business following Galderma buyout

Nestle has announced the launch of a new dermatology business unit following its buyout of Galderma, its joint venture with L'Oreal.

The company has purchased a 50 percent stake in the Swiss-based Galderma and will now be launching Nestle Skin Health, a division dedicated to meeting dermatology needs with a scientifically-proven range of innovative products.

It will leverage Galderma's current portfolio, formulations and innovative research, while combining the worldwide commercial operations of Galderma and Nestle.

Galderma's scientific division will become part of Nestle Skin Health and will actively collaborate with Nestle's global research network, while the acquired company's 33 commercial subsidiaries worldwide will continue to operate under the Galderma brand.

Humberto Antunes, chief executive officer of Galderma, said: "As part of Nestle Skin Health, Galderma's medical heritage and portfolio can be expanded to meet the full range of skin health needs, creating a new world leader focused on improving people's lives."

Galderma sells products in 70 countries to treat skin diseases including acne, psoriasis and cancer. It was founded by Nestle and L'Oreal in 1981.