Galderma Pharma, a Switzerland-based global specialty pharmaceutical company focused on dermatology, has entered into a definitive agreement to acquire Spirig Pharma, a Swiss company that develops, produces, and markets dermatological products.

"We are delighted to join forces with Spirig Pharma," said Humberto C. Antunes, CEO of Galderma. "Spirig has a holistic approach to protecting, treating, restoring and preventing dermatological conditions which is closely aligned to that of Galderma. With this acquisition, Galderma will become the dermatology market leader in Switzerland. Additionally, with our global presence, we will be able to make Spirig's outstanding products available to a larger number of patients around the world."

Dr. Beat Sägesser, CEO of Spirig, said, "Galderma fulfils all the stringent criteria we set when we started looking for a new owner. Becoming part of Galderma will provide Spirig with the ideal conditions in which to develop and take its business to a new level and provide new opportunities for our employees.”

Spirig's products treat conditions such as solar damage and skin barrier function impairment. In addition, the company has a range of medically-proven products that prevent pre-cancerous conditions, such as actinic keratosis, a type of non-melanoma skin cancer. Leading brands include Excipial, Daylong and Daylong Actinica. With 390 employees in total, Spirig generated sales of $105 million in 2011.

"We are excited about our two companies' commercial and geographic opportunities, maximizing the value of our complementary product portfolios in the prescription and self-medication markets," said Albert Draaijer, vice president of business development and markets, Galderma. "We look forward to welcoming Spirig employees and to combining our efforts to better meet the market's needs."

Galderma intends to utilize Spirig's Egerkingen location as headquarters to its Swiss market operations and as a center-of-excellence. The global corporate headquarters of Galderma remain in Lausanne. The transaction is expected to close in early 2013, subject to the fulfillment of customary closing conditions.