Sandoz announced it has completed the acquisition of Fougera Pharmaceuticals, a maker of generic dermatology products, for $1.525 billion in an all-cash transaction. According to a company press release, the acquisition will complement Sandoz’s existing pipeline of biosimilars and generic injectables, ophthalmics and antibiotics. Sandoz plans to use its global reach to expand Fougera’s dermatology portfolio into new markets.
Currently, Fougera Pharmaceuticals employs approximately 700 people across its US sites. It operates two main businesses: Fougera, specializing in dermatology development and manufacturing, with expertise in the area of semi-solid forms such as creams and ointments, and PharmaDerm, a branded specialty pharma business. Fougera will be integrated into Sandoz’s US business based in Princeton, NJ, but will continue to exist as a separate legal entity. Fougera’s site in Melville, NY, will be home to a new center of excellence for generic dermatology development and manufacturing within the global Sandoz network.