Less than two weeks after losing longtime acquisition target Allergan--which happily sold itself to Actavis to dodge Valeant's hostile bid and the R&D cuts it feared would come along with it--the Canadian pharma is talking up the productivity of its own labs.
Revance Therapeutics' top prospect, a topical successor to Botox, has fallen off schedule, putting off the company's Phase III plans until next year and sending its shares southward.
Well-funded biotech Dermira has landed a $51 million C round to support its late-stage dermatology pipeline, rallying some high-profile investors as it dials up R&D spending and builds out its management team.
Valeant CEO J. Michael Pearson is an aggressive buyer, especially when it comes to the fast-growing skincare field. But Pearson was also a seller Wednesday, shipping off rights to a handful of cosmetic products to Nestlé as the Swiss food group looks to expand into the dermatology space.
Nearly three years removed from his Celgene retirement, Sol Barer is working to get another biotech off the ground, piecing together four drugmakers into a whole called RestorGenex and setting out to make a difference in dermatology, ocular diseases and women's health.
Nestlé has caught the dermatology fever sweeping through Big Pharma, as companies key in on the specialty sector's growth potential. But success for Galderma, its recent skincare pickup, will depend on the global food giant's marketing power as it pushes further into the healthcare sector.
Valeant Pharmaceuticals has snapped up another dermatology specialist in its ongoing quest to build its business in the field. This time, it's PreCision Dermatology, a Cumberland, RI-based maker of prescription skin remedies and skin-care products sold by physicians.
Biotech management company NeXeption has locked in $21.5 million in a Series A round of financing to form Alexar Therapeutics, a company with a focus on treating skin disorders called inflammatory cutaneous disorders.
Spanish drugmaker Almirall is extending its global sales reach by picking up U.S.-based Aqua Pharmaceuticals for up to $400 million. The deal bolsters Almirall's presence in the red-hot dermatology field to boot.
Drugmakers have been wooing small players in the skin-treatment field, and just last month, Valeant Pharmaceuticals announced that it had agreed to buy Obagi Medical for $345 million. But now, Merz Pharma has trumped that bid.