Sandoz to acquire former Nycomed dermatology unit

Sandoz, the generics unit of Novartis AG (NYSE:NVS; SIX:NOVN), will acquire dermatology generics company Fougera Pharmaceuticals Inc. (Melville, N.Y.) for $1.5 billion in cash. Fougera (formerly Nycomed US Inc.) was the U.S. dermatology subsidiary of Nycomed before it became a standalone company following Nycomed's acquisition last year by Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) for EUR 9.6 billion ($13.8 billion). Fougera's sellers are a group of private equity firms led by Nordic Capital Funds; DLJ Merchant Banking Partners; and Avista Capital Partners (see BioCentury Extra, Aug. 1, 2011). ...