Sandoz completes takeover of dermatology specialist Fougera
24 July 2012 17:08 in Consumer Healthcare News
Sandoz has announced the completion of its acquisition of dermatology specialist Fougera Pharmaceuticals for $1.53 billion (981.67 million pounds).
The closing of this transaction confirms Sandoz's position as the industry leader in generic dermatology in both the US and global markets, allowing it to capitalise fully on the current growth of this key industry.
Fougera's net sales came to $429 million in 2011 in the US alone, with the company boasting strong dermatology development and manufacturing expertise, particularly in the areas of creams and ointments.
The takeover will allow Sandoz to expand the presence of Fougera's broad dermatology portfolio - including brands such as PharmaDerm - to new international markets.
Sandoz's global head Jeff George said: "We are pleased to combine Fougera's strong portfolio and pipeline of dermatology medicines with Sandoz's existing global leadership positions in biosimilars and generic injectables, ophthalmics and antibiotics."
The firm is one of the largest generic medicines manufacturers in the world, generating net sales of $2.1 billion during the second quarter of 2012.
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Story collated for Zenopa by the Adfero News Agency