Sanofi sells dermatology business to Valeant

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) acquired the Dermik dermatology unit from Sanofi (Euronext:SAN; NYSE:SNY) for $425 million in cash. Dermik, which markets therapeutic and aesthetic dermatology products mainly in the U.S. and Canada, had total 2010 revenue of about $240 million. Valeant said the acquisition will expand its dermatology franchise in the U.S. and Canada.

Dermik's portfolio includes acne treatment BenzaClin clindamycin/benzoyl peroxide gel; actinic keratosis (AK) drug Carac fluorouracil cream; and Sculptra Aesthetic injectable poly-L-lactic acid for the correction of facial wrinkles and folds. The deal also includes Sanofi's Laval, Quebec, manufacturing site. ...