Nestle moves into medical skin treatments with new firm
ZURICH May 28 (Reuters) - Nestle SA said on Wednesday it was branching into medical skin treatments and had acquired the rights to several skin products from Canadian firm Valeant Pharmaceuticals International Inc for $1.4 billion in cash.
The basis for the new company, Nestle Skin Health, would be Galderma, a joint venture with L'Oreal, and would be fully-owned by Nestle, the firm said.
Nestle said it would acquire from Valeant the full rights to commercialise Restylane, Perlane and Emervel, products used for corrective facial aesthetic treatments, and Dysport, a dermatology treatment, in the United States and Canada.
It said it would also acquire the full rights to Sculptra, a treatment for aesthetic and medical uses in the United States, Canada and other markets. (Reporting by Alice Baghdjian; Editing by Matt Driskill)