Sandoz has completed its USD 1.525 billion acquisition of specialty US dermatology company Fougera Pharmaceuticals on a cash and debt free basis.
Fougera had net sales of USD 429 million in 2011 in the US alone and, combined with Sandoz's existing generic dermatology franchise, this positions Sandoz as the new #1 in generic dermatology medicines both globally and in the US. Fougera has strong dermatology development and manufacturing expertise, particularly in the area of semi-solid forms such as creams and ointments, as well as a well-known 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."
Dermatology generics is an important and rapidly-growing segment of the US market, which IMS estimated at USD 2.1 billion in 2011 sales and which had strong double digit annual growth between 2009 and 2011(1). Dermatology covers a range of often complex diseases from acne to psoriasis to fungal infections to skin cancer.
In addition to building on the two companies' overlapping customer base in the US, Sandoz will leverage both its leading position in the US generics sector and its presence in over 140 countries to expand Fougera's broad dermatology portfolio to new markets around the world.