PARIS (dpa-AFX) - Sanofi (SNY) said it has completed the divestiture of its dermatology business, Dermik, to Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) for a total cash consideration of $422.5 million.
The scope of the transaction includes Dermik assets, which consist of an aesthetic and therapeutic business in the United States and Canada, as well as an aesthetic business around the world. Also included in the scope is Sanofi's Laval, Canada site, which includes Dermik's manufacturing facility, the company noted.
Sanofi's Canadian affiliate, sanofi-aventis Canada, will maintain its operations in greater Montreal.
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