Sanofi completes sale of Dermik business to Valeant

Deal also includes manufacturing plant in Laval, Canada

French drugmaker Sanofi has completed the sale of its Dermik dermatology business to Valeant Pharmaceuticals International, for US$422.5m in cash.

Valeant is a pharmaceutical company focused on the neurology and dermatology therapeutic areas based in Mississauga, Ontario, Canada.

The transaction includes Dermik’s aesthetic and therapeutic business in the US and Canada, as well as an aesthetic business around the world. Sanofi has also sold its Laval, Canada site, which includes Dermik’s manufacturing facility.

Sanofi’s Canadian affiliate, sanofi-aventis Canada, will maintain its operations in greater Montreal.

Dermik sales are expected to reach more than US$200m for the year 2011.

Sanofi’s Canadian affiliate, sanofi-aventis Canada, will maintain its operations in greater Montreal.

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