NNovartis buys Fougera Pharmas for $1.525 Billion

Novartis has agreed to buy specialty dermatology generics company Fougera Pharmaceuticals for USD 1.525 billion.

Fougera is a specialty dermatology business with 2011 net sales of USD 429 million, and employs 700 people across its two primary sites, located in New York

The agreement will create a strong global growth platform for Sandoz, which is the pharmaceuticals division of Novartis. Sandoz will use its leading position both in the US generics sector and its presence in over 130 countries worldwide to expand Fougera’s existing sales base and bring its broad dermatology portfolio to new markets around the world.

Jeff George, Global Head of Sandoz said “The addition of Fougera’s leading portfolio further strengthens Sandoz’s differentiated products strategy and improves our ability to help patients and customers around the world by providing easier access to high quality, affordable dermatological medicines. Fougera brings us valuable technical capabilities in the area of topical dermatological products, particularly in the development and manufacturing of semi-solid forms such as creams and ointments,”

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