Navigation Links
DFB Sells Coria Labs to Valeant Pharmaceuticals
Date:9/17/2008

FORT WORTH, Texas, Sept. 17 /PRNewswire/ -- H. Paul Dorman, Chairman and Chief Executive Officer of Fort Worth-based DFB Pharmaceuticals, Inc., today announced that DFB has signed a definitive agreement to sell its dermatology division Coria Laboratories, Ltd. to Valeant Pharmaceuticals International (NYSE: VRX).

Under the terms of the agreement, Valeant will purchase all of the outstanding shares of Coria from DFB Pharmaceuticals, Inc., and other shareholders for $95 million, subject to certain adjustments. The transaction is expected to close following the required approval under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended.

"This merger is an exciting milestone in the evolution of the Coria business," said Mr. Dorman. "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 with Valeant's financial strength as a way to maximize the past success of Coria and provide an outstanding platform to create a leading dermatology franchise."

The Coria transaction will add several marketed dermatology products to Valeant's portfolio, including the CeraVe(R) Skin Care Line, Cloderm(R) Cream for the treatment of dermatoses, Akne-Mycin(R) and Atralin(TM) for the treatment of acne, and Salex(R) for the treatment of hyperkeratotic skin disorders, as well as Tetrix(TM) Cream for the treatment of hand dermatitis which is expected to be launched later this year. In addition, Coria has several products under development, including line extensions for the CeraVe(R) brand product line.

Coria Laboratories was advised by William Blair & Company, L.L.C.

About Valeant

Valeant Pharmaceuticals International (NYSE:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology and dermatology. More information about Valeant can be found at http://www.valeant.com.

About Coria Laboratories, Ltd.

Coria Laboratories, Ltd. is a rapidly growing pharmaceutical company specializing in research, development and marketing of high-quality dermatology products for the treatment of diseases affecting the skin, hair, and nails. Coria Laboratories has a broad portfolio of branded prescription and over-the-counter dermatology products. For more information on Coria Laboratories, visit the web site at: http://www.corialabs.com.

About DFB Pharmaceuticals, Inc.

DFB Pharmaceuticals, Inc. is a privately held Texas corporation that provides technology-driven pharmaceutical products, outsourcing services, and licensing opportunities through its affiliate partners to the healthcare industry worldwide. DFB's business structure is organized by segments: Branded Pharmaceuticals, Biotechnology, and Pharmaceutical Services. The Branded Pharmaceuticals segment includes HEALTHPOINT, Ltd., active in the research, development, and marketing of branded pharmaceuticals, over-the-counter drugs, and biotech drugs for wound care indications since 1992; and Coria Laboratories, Ltd., focusing on dermatology and treatments of diseases that affect the skin, hair, and nails. Pharmaceutical Services includes DPT Laboratories, Ltd., a Contract Development and Manufacturing Organization (CDMO) and industry source for semi-solid and liquid development and manufacturing services for the world's leading pharmaceutical, biotechnology, and healthcare companies. The Biotechnology segment encompasses Phyton Biotech, Inc., whose proprietary plant cell culture technology platform is used to develop and manufacture products with applications in the pharmaceutical and biotech industries; and Phyton's German subsidiary, Phyton GmbH, which operates the world's largest commercial cGMP manufacturing facility for plant cell fermentation. DFB is on the web at http://www.dfb.com.


'/>"/>
SOURCE DFB Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. HealthSonix Sells Operating Subsidiaries to Innovative Health Sciences
2. AEterna Zentaris Sells Quebec City Building for $7.1 million
3. VaxGen Sells Anthrax Vaccine Program and Related Assets and Technology to Emergent BioSolutions, Inc.
4. Cell Therapeutics, Inc. Sells $64.5 million Units Consisting of Preferred Stock, New 2014 Convertible Senior Notes and Warrants to a Single Institutional Investor
5. CuraGen Sells Ownership of Belinostat to TopoTarget A/S
6. ActivBiotics Sells Proprietary Assets, Including Drug Product Candidates
7. Exelixis Sells 80% Stake in Artemis to Taconic
8. Discas, Inc. Sells Shares to SNX Organic Fertilizers, Inc.
9. Quark Pharmaceuticals Announces Poster Presentations at RNAi Europe 2008
10. Cequent Pharmaceuticals Meets Novartis Option Fund Milestone; Continues to Next Phase to Validate Inflammatory Bowel Disease Targets in Vivo
11. David Hsia, Ph.D. Joins Kinex Pharmaceuticals Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... June 27, 2016 /PRNewswire/ - BIOREM Inc. (TSX-V: BRM) ("Biorem" ... by its major shareholders, Clean Technology Fund I, LP ... States based venture capital funds which together ... (on a fully diluted, as converted basis), that they ... their entire equity holdings in Biorem to TUS Holdings ...
(Date:6/27/2016)... ... June 27, 2016 , ... Parallel 6 , the ... today the Clinical Reach Virtual Patient Encounter CONSULT module which enables both ... physician and clinical trial team. , Using the CONSULT module, patients and physicians can ...
(Date:6/27/2016)... PHILADELPHIA , June 27, 2016  Liquid ... today announced the funding of a Sponsored Research ... study circulating tumor cells (CTCs) from cancer patients.  ... changes in CTC levels correlate with clinical outcomes ... therapies. These data will then be employed to ...
(Date:6/24/2016)... , June 24, 2016 Epic ... sensitively detects cancers susceptible to PARP inhibitors by ... tumor cells (CTCs). The new test has already ... therapeutics in multiple cancer types. Over ... DNA damage response pathways, including PARP, ATM, ATR, ...
Breaking Biology Technology:
(Date:6/16/2016)... 16, 2016 The global ... to reach USD 1.83 billion by 2024, according ... Inc. Technological proliferation and increasing demand in commercial ... to drive the market growth.      ... The development of advanced multimodal techniques for biometric ...
(Date:6/9/2016)... 9, 2016 Paris Police ... video security solution to ensure the safety of people and ... during the major tournament Teleste, an international technology ... services, announced today that its video security solution will be ... back up public safety across the country. The system roll-out ...
(Date:6/2/2016)... June 2, 2016 The Department of ... awarded the 44 million US Dollar project, for the ... Plates including Personalization, Enrolment, and IT Infrastructure , ... the production and implementation of Identity Management Solutions. Numerous renowned ... Decatur was selected for the most ...
Breaking Biology News(10 mins):