Valeant Pharmaceuticals, Nestle deal

Valeant will sell its dermal fillers and toxins to Nestle for $1.4 billion in cash. The aesthetics portfolio includes full rights to Sculptra injectable poly-L-lactic acid and U.S. and Canadian rights to commercialize several products Valeant gained in its 2012 acquisition of Medicis Pharmaceutical Corp., including Dysport abobotulinumtoxinA and hyaluronic acid dermal fillers Restylane, Perlane and Emervel. Valeant did not disclose sales of the products but said the purchase price "was more than five times sales" (see BioCentury, Dec. 17, 2012).

Nestle said it plans to market the assets through Galderma S.A. (Lausanne, Switzerland), a 50/50 JV between Nestle and L'Oreal S.A. (Euronext:OR, Clichy, France). Nestle is buying out L'Oreal's stake in a deal slated to close next month. Galderma already markets Restylane, Perlane, Emervel and Dysport outside the U.S. and Canada. Ipsen Group (Euronext:IPN; Pink:IPSEY, Boulogne-Billancourt, France), from whom Medicis licensed Dysport, markets the product in Europe. ...