Sanofi sells skin care business to Valeant Pharmaceuticals International
PARIS — French drug maker Sanofi has sold its skin care business to Canada’s Valeant Pharmaceuticals International, Sanofi said.
Sanofi said the $425 million sale of its dermatology business, Dermik, would allow it to focus on its core businesses. Valeant’s business is much more focused on dermatology, as well as neurology, than Sanofi’s is.
“Our strategy is based upon our growth platforms and innovation,” Sanofi CEO Christopher Viehbacher said. “This divestiture allows us to rationalize our portfolio and improve focus on our core businesses.”