Sandoz has completed the acquisition of U.S. dermatology company Fougera Pharmaceuticals for $1.5 billion in cash. Fougera has dermatology development and manufacturing expertise, particularly in the area of semi-solid forms such as creams and ointments, as well as a branded business, PharmaDerm.
“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 US and around the world.”
Sandoz will leverage its presence in more than 140 countries to expand Fougera’s dermatology portfolio to new markets. Fougera will be integrated into Sandoz’s business based in Princeton, NJ, but will continue to exist as a separate legal entity. Fougera, based in Melville, NY, will serve as a new center of excellence for generic dermatology development and manufacturing within the global Sandoz network.
Fougera had net sales of $429 million in 2011 in the U.S. and currently employs approximately 700 people. The two main businesses include Fougera, with 45 products and more than 200 SKUs, and PharmaDerm, a branded specialty pharma business with 17 brands and 40 SKUs.