PARIS — In a move to bolster its skin health activity, Nestlé said it is acquiring the rights to commercialize the aesthetic dermatology products Restylane, Perlane, Emervel, Dysport and Sculptra in the U.S. and Canada from Valeant Pharmaceuticals International for $1.4 billion in cash.
This story first appeared in the May 29, 2014 issue of WWD. Subscribe Today.
Nestlé said the U.S. and Canada together represent more than 50 percent of the global medical aesthetics market.
Outside of the U.S. and Canada, Galderma commercializes the products.
As reported, in early February Nestlé said it would create Nestlé Skin Health SA. The foundation of the activity is Galderma, the 50-50 joint venture with L’Oréal that Nestlé is acquiring from the French beauty giant. Nestlé’s Bübchen infant skin-care business is also to be in the skin-health branch.
The Galderma buy is part of a larger transaction that reduces Nestlé’s stake of L’Oréal’s share capital to 23.3 percent from 29.4 percent.
Speaking of the Valeant Pharmaceuticals rights agreement, Nestlé chairman Peter Brabeck-Letmathe said in a statement: “With this deal we have acquired key strategic assets to extend Nestlé’s activities in the field of specialized, medical skin treatments, providing consumers with life-enhancing scientific products.”
“This move will reinforce Galderma’s leading position in the industry when it becomes Nestlé Skin Health by allowing it to complete its geographic footprint for its strong portfolio of brands and leading medical solutions globally,” stated Paul Bulcke, Nestlé’s chef executive officer.
The transaction is subject to regulatory approval and closing conditions.