Galderma buys CollaGenex.
by Ault, Alicia
Two dermatology powerhouses are about to combine--that is, if U.S.
regulatory authorities approve the merger of Galderma Laboratories and
CollaGenex Pharmaceuticals. Galderma proposes to purchase all of
CollaGenex's outstanding shares for about $420 million. Galderma, a
subsidiary of the Swiss drugmaker Galderma Pharma based in Newtown, Pa.,
has such products as Clobex, Tri-Luma, Cetaphil, and Pliaglis. It is
also seeking U.S. approval for Dysport, a botulinum toxin type A
injection sold in Brazil and Argentina. CollaGenex's flagship
therapy is Oracea and the company is testing a vitamin D analogue for
mild to moderate psoriasis. Galderma said that it expects to complete
the merger before the end of the second quarter.
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