Pharma BD Deal Intelligence

Novartis AG / Fougera Pharmaceuticals Inc.

2012 · Acquisition/Merger · $1.5B · Complete

Announcement Sentiment

Strongly positive

Sandoz (Novartis division) acquired Fougera Pharmaceuticals for $1.525B all-cash. Made Sandoz #1 in generic dermatology globally and in the US. Fougera 2011 net sales $429M. FTC required divestiture of 4 topical products. Sellers: Nordic Capital, DLJ Merchant Banking, Avista.

Did it work? Outcome assessment

Strategic verdict

Partially Achieved

Financial impact

Dilutive

Pipeline outcome

Mixed

Assessment window: 10yr post-close.

Key facts

Announced May 02, 2012
Closed Jul 23, 2012
Deal value $1.5B
Deal type Acquisition/Merger
Therapeutic area Dermatology generics
Indications Dermatology generics
Key assets Generic dermatology portfolio (45 products, 200+ SKUs) plus PharmaDerm branded specialty (17 brands)
Mechanism Multiple (topical dermatologic)

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