Novartis to acquire Fougera Pharmaceuticals

Friday, May 4, 2012 08:02 AM

Switzerland-based Novartis has signed a definitive agreement to acquire specialty dermatology generics company Fougera Pharmaceuticals of Melville, N.Y., for $1.5 billion in cash.

The acquisition creates another strong global growth platform for Sandoz, the generic pharmaceuticals division of Novartis. Based on 2011 IMS data, the combined businesses will garner an estimated annual global sales of nearly $620 million, primarily in the U.S. Fougera has strong dermatology development and manufacturing expertise, with numerous launches planned for 2012 and beyond.

Fougera Pharmaceuticals operates two main businesses: Fougera, a player in the $2.1 billion U.S. dermatology generics sector with 45 products and more than 200 SKUs, and PharmaDerm, a branded specialty pharmaceutical business with 17 brands and over 40 SKUs.

"The addition of Fougera's leading portfolio further strengthens Sandoz's differentiated products strategy and improves our ability to help patients and customers around the world by providing easier access to high quality, affordable dermatological medicines,” said Jeff George, global head of Sandoz. “Fougera brings us valuable technical capabilities in the area of topical dermatological products, particularly in the development and manufacturing of semi-solid forms such as creams and ointments.”

Sandoz will leverage its position both in the U.S. generics sector and its presence in over 130 countries worldwide to expand Fougera's existing sales base and bring its broad dermatology portfolio to new markets around the world.

The transaction requires regulatory approvals and is expected to be completed in the second half of 2012. The transaction is expected to be accretive to core earnings per share (EPS).

Share:          
CWWeekly

March 23

Industry welcomes FDA draft guidance outlining the use of electronic Informed Consent for trials

Apple launches ResearchKit platform to tap millions of iPhone users to enroll in observational studies using apps

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

March

Novo Nordisk, Takeda, Servier, Celgene among top sponsors
New gains seen from patient- and site-centric initiatives

Patient reported outcomes take center stage
FDA combining PROs, clinical outcomes in its approval decisions

Already a subscriber?
Log in to your digital subscription.

Purchase the March issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

February

Study grants market breaks $13 billion
Volume of clinical activity rising while growth in grant spending slows

Revisiting eClinical Technology Solutions Adoption
While use of established solutions grows, sponsors hesitate on newer tools

Already a subscriber?
Log in to your digital subscription.

Purchase the February issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs