Novartis to Acquire Dermatology Company Fougera

Sandoz, the generics division of Novartis, is to acquire dermatology specialist Fougera at a transaction value of $1.525 billion.

Novartis' generic drugs division Sandoz has agreed to buy New York-based Fougera Pharmaceuticals for $1.525 billion in cash.

The global healthcare company said it has signed a definitive agreement to acquire the specialty company, making Sandoz the global market leader in generic dermatology medicines.

Following the acquisition, Sandoz's estimated annual global sales will be in the region of $620 million and the company will benefit from Fougera's numerous planned product launches.

Jeff George, global head of Sandoz, said: "The addition of Fougera's leading portfolio further strengthens Sandoz's differentiated products strategy and improves our ability to help patients and customers around the