Sanofi sells dermatology unit to Canada's Valeant

AP News
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Posted: Jul 11, 2011 6:34 AM
Sanofi sells dermatology unit to Canada's Valeant

French pharmaceutical company Sanofi says it has sold its dermatology unit, Dermik, to Canada's Valeant for $425 million.

Dermik, the maker of acne drug BenzaClin and filler Sculptra, registered $206 million in sales in 2010.

In a statement Monday, Sanofi described the sale as a strategic divestiture.

The company said it sold the unit "with the intention to further concentrate on its growth platforms." It added that it thinks "Dermik will benefit from being part of a larger dermatology business."

The statement said that the closing of the deal is subject to clearance by antitrust authorities.