FORT WORTH, Texas DFB Pharmaceuticals has agreed to sell its Coria Labs dermatology division to Valeant Pharmaceuticals International for $95 million.
The acquisition will add to Valeant’s portfolio several products including the CeraVe skin care line; Cloderm Cream for dermatoses; Akne-Mycin and Altralin for acne; and Tetrix, which is a treatment for hand dermatitis that is expected to launch later this year. In addition, Coria has several products under development, including line extensions for the CeraVe brand product line.
“This merger is an exciting milestone in the evolution of the Coria business,” stated H. Paul Dorman, chairman and chief executive officer of DFB Pharmaceuticals. “Valeant has a commitment to the development and growth of its dermatology business, making it the ideal fit for Coria and its talented workforce here in Fort Worth as well as the field based sales representatives across the country. We see the combination of Coria and Valeant’s financial strength as a way to maximize the past success of Coria and provide and outstanding platform to create a leading dermatology franchise.”