By and  on February 27, 2008

PARIS — Galderma Pharma, the pharmaceutical company jointly owned by L'Oréal and Nestlé, has agreed to acquire CollaGenex Pharmaceuticals.

The deal, which is valued at $420 million, will be made through Galderma's U.S. holding company Galderma Laboratories Inc. and completed in two steps — a cash tender offer followed by a merger.

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