Nestle to pay $1.4 billion for skin treatments
28 May 2014, 14:48
Frankfurt, Germany — Nestle says it is paying $1.4 billion in cash for the rights to sell lip and wrinkle treatment Restylane and other skin products in the U.S. and Canada.
The Swiss company said Wednesday it is is acquiring commercialization rights from Canada's Valeant Pharmaceuticals International.
The products are Restylane, which can be used to make lips fuller and smooth out wrinkles, as well as Perlane, Emervel, Dysport and Sculptra, used to reduce wrinkles or address other issues in different areas of the face.
Nestle already had the rights to the products outside the U.S. and Canada.
Vevey-based Nestle is in the process of expanding its skin business by taking full control of Galderma, its 50-50 joint venture with L'Oreal. That deal is awaiting final regulatory clearance.