Sandoz completes acquisition of Fougera Pharmaceuticals Sandoz recently announced that it has completed an acquisition of U.S. dermatology company Fougera Pharmaceuticals for more than $1.5 billion on a cash and debt-free basis.

Sandoz is the second-largest generic pharmaceuticals company in the world, offering its own versions of medications that are not patent-protected. Fougera's focus is dermatology, particularly topical medications.

Fougera's New York facility will become Sandoz's new global dermatology center. Fougera had net sales of $429 million in 2011 in the United States, and Sandoz pointed to its success in a statement announcing the deal. In particular, Sandoz underscored the product diversification the deal would bring, as well as Fougera's strong supply chain.

"We are pleased to combine Fougera's strong portfolio and pipeline of dermatology medicines with Sandoz's existing global leadership positions in biosimilars and generic injectables, ophthalmics and antibiotics," said Sandoz's global head Jeff George. "This will significantly enhance the range of affordable, high-quality medicines that Sandoz can offer to patients and payors in the U.S. and around the world."

Creams and ointments are Fougera's most well-known products, and it has a strong reputation both for development of pharmaceutical products and manufacture of those products.

The market for generic pharmaceuticals grew significantly between 2009 and 2011, and reached $2.1 billion in 2011, according to IMS figures cited in the Sandoz release.

"We welcome Fougera into Sandoz and Novartis and we look forward to working together to meet the needs of all our stakeholders," said Don DeGolyer, president of Sandoz US. "Sandoz and Fougera share a strong culture based on quality, excellence, and a determination to succeed in the interests of the patients we serve."

Employing about 700 people in the United States, Fougera represents a significant acquisition for Sandoz, but it will continue to operate as a separate entity from a legal standpoint.

Par Pharmaceuticals also recently announced its has agreed to be acquired for about $1.84 billion in cash by the private investment firm TPG. The acquisition needs the approval of a majority of Par's outstanding stock.
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