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Article
Leo regains U.S. rights from Warner Chilcott for dermatology products
Author(s):
International report ? Leo Pharma, Denmark, is paying $1 billion in cash to reacquire U.S. rights held by Warner Chilcott for the company?s psoriasis portfolio and dermatology pipeline, Pharma Times reports.
International report
- Leo Pharma, Denmark, is paying $1 billion in cash to reacquire U.S. rights held by Warner Chilcott for the company’s psoriasis portfolio and dermatology pipeline, Pharma Times reports.
Leo has been in partnership with Warner Chilcott since 2003, and is regaining the rights to its topical psoriasis products Taclonex and Taclonex Scalp (calcipotriene and betamethasone) and Dovonex (calcipotriene). The deal also includes Leo’s dermatology development pipeline and all inventories of the products, according to Pharma Times.
Warner Chilcott will realize a one-time after-tax gain of about $450 million. Net cash proceeds of about $980 million will be used to repay and terminate its existing senior secured credit facilities and partly finance the purchase of Procter & Gamble’s pharmaceutical unit, which it agreed to acquire for $3.1 billion, Pharma Times reports.
Leo has recently expanded into China, Russia and Mexico, and has also agreed to buy U.S.-Australian dermatology specialty company Peplin for $287.5 million.
