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Sanofi announced Monday that it completed the sale of its dermatology unit Dermik to Valeant Pharmaceuticals for a total cash payment of $422.5 million.
The transaction, which was disclosed in July, includes an aesthetic and therapeutic business in the US and Canada, as well as a global aesthetic business. Sanofi noted that the deal also comprises its Laval, Canada site, which includes Dermik’s manufacturing facility. Sales from the Dermik unit are expected to reach more than $200 million this year.
Sanofi said that its Canadian unit will maintain operations in greater Montreal.
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