Valeant generated itself some cash by selling off the American rights to several wrinkle cream products to Nestle for $1.4 B. Nestle already owns the rights on these products (Restylane, Perlane, Emervel and Dysport) outside the US as it bought Galderma earlier this year. With the move, Nestle gives itself a greater position in skin care -- an apparent diversification corporate goal. Valeant gets cash and also removes a possible anitrust hurdle should it acquire Allergan, and its lead antiwrinkle product Botox.
It "eliminated one more roadblock in terms of our integration with Allergan," Pearson said on a conference call Wednesday, as quoted by Bloomberg. See Fierce Pharma.
Posted by Bruce Lehr May 28th 2014.