A subsidiary of Galderma Pharma will buy CollaGenex Pharmaceuticals--which makes Oracea for rosacea [1]--in a deal that values the company at $420 million. Galderma Laboratories will pay $16.60 a share for CollaGenex, which will become a subsidiary of Galderma. Both boards have blessed the deal. Executives called it a marriage of complementary therapies.
"Galderma was the first pharmaceutical company to develop a topical product indicated for the treatment of rosacea," said Colin Stewart, CEO of CollaGenex. "Oracea, combined with the successful development of Col-118, will enable Galderma to offer physicians and patients a full suite of complementary pharmaceutical products to treat rosacea.'
- see this release [2]
- read the AFX report [3] for more
Related Articles:
CollaGenex bails on rosacea therapy. Report [4]
CollaGenex touts Phase IV Oracea data. Report [5]
FDA OKs Oracea for rosacea skin condition. Report [1]
Researchers find cause, therapies for rosacea. Report [6]
Links:
[1] http://www.fiercebiotech.com/story/fda-oks-oracea-for-rosacea-skin-condition/2006-05-30
[2] http://www.fiercebiotech.com/press-releases/collagenex-pharmaceuticals-agrees-420m-galderma-s-takeover
[3] http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-23281226.htm
[4] http://www.fiercebiotech.com/story/collagenex-bails-rosacea-therapy/2007-09-26
[5] http://www.fiercebiotech.com/story/collagenex-touts-phase-iv-oracea-data/2007-02-02
[6] http://www.fiercebioresearcher.com/story/researchers-find-cause-therapies-rosacea/2007-08-07