Sanofi-Aventis to double consumer health business in Canada with buy of Canderm; gets positive view on Multaq in France

In a further move of its declared intention to expand its consumer health care business, French drug major Sanofi-Aventis has entered into a definitive agreement under which its Canadian affiliate will acquire the assets of Canderm Pharma, a privately-held leading Canadian skin care company. This deal follows on the heels of the group's $1.9 billion acquisition of the North American CHC company Chattem (The Pharma Letter December 22, 2009). Financial of the Canderm buy were not disclosed.

This transaction will allow Sanofi-Aventis to consolidate its dermatology portfolio under the Canderm umbrella to create a Canadian leader in medical dermatology, and to double its consumer health care sales in Canada. Canderm annual sales reached C$24 million ($23.2 million) in 2009, or approximately 10% of the non-prescription anti-ageing skin care market in Canada.

'The acquisition of the business of Canderm fits perfectly with our strategy of becoming a diversified health care company and is yet another important step in our strategy to build a sustainable long-term business model,' said Hugh O'Neill, president and chief of Sanofi-Aventis Canada, adding: 'It also offers new opportunities, as we plan to consolidate our dermatology portfolio under the Canderm umbrella to create a Canadian leader in medical dermatology.'