Jones Day Reps Sanofi In $425M Unit Sale To Valeant

Law360, New York (July 11, 2011, 1:58 PM EDT) -- French pharmaceutical giant Sanofi SA said Monday it had agreed to sell its Dermik dermatology business to Canada-based Valeant Pharmaceuticals International Inc. for $425 million.

As part of the all-cash transaction, Valeant is picking up Dermik's aesthetic and therapeutic business in the U.S. and Canada as well as its global aesthetic business, which garnered sales of $206 million in 2010, according to Sanofi.

Sanofi's choice to shed Dermik is part of a broader plan to amp up its other business units, the French company said....
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