Galderma, Q-Med deal

Dermatology Galderma will acquire Q-Med in a tender offer for up to SEK7.5 billion ($1.1 billion) in cash. Majority shareholder Lyftet Holding, which owns 47.5% of Q-Med, will receive SEK58.94 per share, plus up to SEK16.02 per share in milestone payments. All other Q-Med shareholders will receive SEK75 per share, which is a 13% premium to Q-Med's close of SEK66.25 on Dec. 10, before the deal was announced. Galderma said Q-Med will become its center of excellence for the field of corrective and aesthetic dermatology. Q-Med, which had 2009 revenues of SEK1.4 billion ($200 million), markets Restylane for filling lines and folds, contouring and creating volume in the face, and Macrolane for body contouring. ...