Nestle Grows Skin Care Footprint, Valeant Gains Antitrust Cover In Derma Deal
This article was originally published in The Tan Sheet
Swiss food and beverage firm Nestle grows its stake in North American skin care with its pending $1.4 billion acquisition from Valeant of five aesthetic dermatology brands, demonstrating its commitment to health and wellness, analysts say. Valeant resolves potential antitrust obstacles to its proposed Allergan acquisition.
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Galderma will be the “foundation” of a new division to be called Nestle Skin Health SA, said Nestle Chairman Peter Brake-Letmathe. L’Oreal will give Nestle its 50% stake in Galderma and $4.6 billion in cash to buy back 8% of its own stock from Nestle.
The specialty pharma adds to its dermatology portfolio with a proposed acquisition of Scottsdale, Ariz.-based Medicis.
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