Valeant Pharmaceuticals is to acquire the Dermik skincare business for $425 million, making Sanofi the latest pharmaceutical giant to shed non-central sectors, following Pfizer’s recent announcement (here). Sanofi’s chief executive has said the sale allows them to “improve [their] focus on core businesses.”
Sanofi also announced that phase III trials on its experimental multiple sclerosis drug are encouraging, as it reduces relapse rate in the condition. More results are expected in the fourth quarter of 2011.
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