Bolstering generics division, Novartis buys FougeraThe pharmaceutical giant Novartis said this week it would purchase Fougera Pharmaceuticals in an effort to grow its market share.

Novartis International said on Wednesday it would pay $1.525 billion for the drug manufacturing company, which specializes in generic skin care medicines. The acquisition is the latest within the biopharm sector, as large corporations have shown a willingness to expand through such  strategic deals.

The New York Times DealBook reports Novartis plans to incorporate Fougera into its generic segment, Sandoz. With the deal, Novartis has effectively bolstered its standing in the skin care medication field, as Fougera is a leading producer of therapies that treat acne and other dermatological afflictions. Don DeGolyer, the president of Sandoz in the U.S., said the addition to the company would buttress the firm's pharma supply chain, among other benefits.

"Fougera and Sandoz serve many of the same customers in the U.S., creating significant sales and cost synergies with Sandoz's sizable U.S. generics business," he noted. "We welcome the team from Fougera Pharmaceuticals into Sandoz and Novartis."

The deal will likely close in the latter part of 2012, according to the news provider.

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