Sanofi said Monday that it will divest its dermatology unit Dermik to Valeant Pharmaceuticals for a cash payment of $425 million. Sanofi CEO Christopher Viehbacher noted that the "divestiture allows us to rationalise our portfolio and improve focus on our core businesses." The deal includes products, such as acne drug BenzaClin, Carac for the treatment of keratoses, and Sculptra, an injectable agent for facial wrinkles and folds, which had combined sales of $206 million last year. Sanofi noted that the transaction includes its manufacturing facility in Quebec, Canada. The facility produces around 70 formulations and over 200 presentations of different tablets, capsules, liquids, ointments and creams for Sanofi and other third party products. Valeant CEO J. Michael Pearson noted that the acquisition "provide us with … opportunities to leverage our combined portfolios in our current markets as well as options to expand Valeant's presence to other territories. Furthermore, the manufacturing facility will provide increased capacity for our future growth initiatives in the US and Canada
The demise of Dermik started 5 years ago with Brian Jennings(Dutchboy). He screwed it up bad and they never recovered. RIP Dutchboy
Does anyone know where the Dermik development activities will plug into Valeant? Who heads up the derm clinical research part of Valeant?
You know, it is just sad. This company has fucked over so many lives. I mean I know a company can't actually be responsible but when I hear or read the name Sanofi Aventis I feel nothing but contempt. I have a couple of years to go till I am of retirement age and the severance plus money I made over the years in pharma leaves me in good shape but I have watched what SA put good people through and the horrible, petty, sociopath profile for the company filled its mangement ranks with. Not all, but enough.
