On May 28th, 2014 in Fort Worth, Texas, Galderma Laboratories L.P. or Galderma announced that one of its shareholders, Nestle S.A. Switzerland, agreed on a partnership with Valeant Pharmeceuticals International, Inc. or Valeant to allow Galderma to distribute key aesthetic dermatological products. This will give Galderma the commercial rights to products like Restylane, Sculptra, Dysport, Emervel, and Perlane for aesthetic dermatological use in the United States and also in Canada.
When the President and CEO of Galderma worldwide, Humberto C. Antunes, spoke on the matter he said, “We are very grateful that Nestle has continued to support Galderma through this transaction. Th U.S. and Canada represent more than 50 percent of the fast-growing global medical aesthetics market. This move secures Galderma’s continued ability to invest in product innovation, medical education, customer service and consumer awareness. Thanks to this agreement with Valeant, Galderma will be able to provide this best-in-class portfolio of fillers and muscle relaxant for aesthetic and corrective dermatology also in the United States and Canada.”
The CEO of Galderma Laboratories L.P., Stuart Raetzman, commented, “This further marks the commitment of Galderma employees in the United States and Canada to aesthetic and corrective dermatology. We all work together to maintain the industry’s highest standards of clinical safety and efficacy, to bring a wide range of scientifically advanced and clinically proven medical solutions to physicians. Our portfolio of products. Combined with exclusive services and medical training programs positions Galderma as the preferred partner of dermatologists, plastic surgeons and aesthetic physicians.”
Galderma currently manufactures Perlane, Emervel, and Restylane, having their subsidiaries sell the products outside the US and Canada. For those two countries, Valeant retains the rights of distribution under an agreement in 2012 with Medicris. Now with this transaction, Galderma can develop these products further and provide them to everyone on a global scale. Galderma is also receiving Sculptra from Valeant with the purpose of commercializing it in the United States and Canada as well as certain global markets.
Galderma globally markets Dysport (which is called Azzalure in Europe) for aesthetic dermatology indications. Currently, Valeant has the rights of distribution for the indications through an agreement with Ispen similar to that with Medicris. After this transaction, Galderma will be able to commercialize the aesthetic dermatology indications of Dysport in the United States and Canada.
Of course, this transaction does not escape the normal regulatory clearance as well as the usual closing conditions. During the transaction, Credit Suisse worked as financial advisors while Debevoise and Plimpton acted as legal advisors for Galderma.
Nestle announced in February of 2014 that it was entering an agreement with L’Oreal to receive the last 50 percent of Galerma that L’Oreal owns. This transaction is also subject to that same clearance and conditions and should close in July.
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