A subsidiary of Galderma Pharma will buy CollaGenex Pharmaceuticals--which makes Oracea for rosacea--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.'
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