Galderma bids for CollaGenex

Published: 28-Feb-2008

Galderma, a company owned jointly by L'Oréal and Nestle and which specialises in dermatological products, has launched a friendly bid worth $420m for a smaller US competitor CollaGenex. The bid is worth seven times the sales of the loss-making American producer.


Galderma, a company owned jointly by L'Oréal and Nestle and which specialises in dermatological products, has launched a friendly bid worth $420m for a smaller US competitor CollaGenex. The bid is worth seven times the sales of the loss-making American producer.

The deal would give Galderma Oracea, a successful product launched in the US 18 months ago for the treatment of skin blotches and rashes and which accounts for 80% of the US company's sales. European rights in Oracea were sold off at the end of 2006 to the German company MediGene, which has filed for marketing approval. Once the agent is marketed in Europe MediGene will pay royalties to Galderma.

CollaGenex has been developing two other treatments for the skin conditions of psoriasis and erythema.

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