Novartis’ Sandoz to Become Largest Generic Dermatology Company with US$1.53 B Fougera Pharmaceuticals Acquisition

Abstract

Novartis’ generic drug unit Sandoz has agreed to acquire Fougera Pharmaceuticals, the former US dermatology business of Nycomed, for US$1.53 B in cash in order to become the leading player in the global generic dermatology market. Fougera reported sales of US$429 M in 2011, most of which came from the US, and Novartis aims to expand the company’s product sales globally. The acquisition will also provide the Swiss company with in-house expertise in topical dermatological products.