Navigation Links
Galderma Completes Tender Offer for CollaGenex
Date:4/7/2008

More than 97% of CollaGenex common stock tendered (including guaranteed

deliveries)

LAUSANNE, Switzerland, April 7, 2008 /PRNewswire/ -- Galderma Pharma S.A., a global specialty pharmaceutical company focused on dermatology, today announced that its U.S. holding company, Galderma Laboratories, Inc., has completed its all cash tender offer for CollaGenex Pharmaceuticals, Inc. (Nasdaq: CGPI). The tender offer expired at 12:00 Midnight, New York City time, at the end of Friday, April 4, 2008.

As of such time, an aggregate of approximately 21 million shares of CollaGenex common stock (including approximately 1.3 million shares that were tendered pursuant to the guaranteed delivery procedures) have been tendered into, and not withdrawn from, the offer. The tendered shares represent approximately 97% of the outstanding shares of CollaGenex. All of such shares have been accepted in accordance with the terms of the tender offer and upon Galderma Laboratories' acquisition of such shares, CollaGenex will become a majority owned subsidiary of Galderma Laboratories.

Galderma Laboratories expects that, shortly after the acquisition of such shares, it will complete the merger of its wholly owned subsidiary, Galderma Acquisition Inc., and CollaGenex. As a result of the merger, each outstanding share of CollaGenex common stock will be converted into the right to receive $16.60 per share in cash, without interest, and CollaGenex will become a wholly owned subsidiary of Galderma Laboratories.

About Galderma

Galderma, created in 1981 as a joint venture between Nestle and L'Oreal, is a fully integrated specialty pharmaceutical company dedicated exclusively to the field of dermatology. The Company has a presence in 65 countries with over 1000 sales representatives and is committed to improving the health of skin with an extensive line of products that treat a range of dermatological conditions including: acne, rosacea, fungal nail infections, psoriasis & steroid-responsive dermatoses, pigmentary disorders, medical solutions for skin senescence and skin cancer. With a new research and development center in Sophia Antipolis, France, Galderma has one of the largest R&D facilities dedicated exclusively to dermatology. Leading dermatology brands include Differin(R), MetroGel 1%(R)/Rozex(R), Clobex(R), Tri-Luma(R), Loceryl(R) and Cetaphil(R). Recently launched products include Pliaglis(R), a topical anaesthetic for dermatologic procedures in the United States, Epiduo(R), an innovative combination product for the treatment of acne in Europe and Argentina, and Dysport(R), an injectable neuromodulator for the correction of wrinkles in Brazil and Argentina. The Company's website is http://www.galderma.com.

About CollaGenex

CollaGenex Pharmaceuticals, Inc. is a specialty pharmaceutical company currently focused on developing and marketing proprietary, innovative medical therapies to the dermatology market. CollaGenex's 2007 revenues were $63.6 million, an increase of 141% over 2006 sales of $26.4 million,, driven by the acceptance of Oracea(R). In July 2006, CollaGenex launched Oracea(R), the first FDA-approved systemic product for the treatment of rosacea. Collagenex's professional dermatology sales force also markets Alcortin(R) (1% iodoquinol and 2% hydrocortisone), a prescription topical antifungal steroid combination, and Novacort(R) (2% hydrocortisone acetate and 1% pramoxine HCl), a prescription topical steroid and anesthetic. CollaGenex recently completed a Phase II clinical trial to evaluate COL-118, a topical compound based on the SansRosa(R) technology, for the treatment of redness associated with rosacea and other skin disorders. CollaGenex recently acquired the rights to develop and commercialize becocalcidiol, a patented Vitamin D analogue that is currently in Phase II clinical trials for the topical treatment of mild to moderate psoriasis.

For more information on CollaGenex please visit CollaGenex's website at http://www.collagenex.com, which does not form part of this press release.

Forward Looking Statements

Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the Company's Quarterly Report on Form 10-K for the year ended December 31, 2007 filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by CollaGenex from time to time with the Securities and Exchange Commission as well as related to the satisfaction of the closing conditions in the merger agreement. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. CollaGenex is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Restoraderm(R), SansRosa(R) and Oracea(R) are registered trademarks and IMPACS(TM) is a trademark of CollaGenex Pharmaceuticals, Inc.

Novacort(R) and Alcortin(R) A are trademarks of Primus Pharmaceuticals, Inc.

Differin(R), Metrogel(R), Clobex(R), Tri-Luma(R), Cetaphil(R) and Epiduo(R) are trademarks of Galderma Pharma S.A.

Pliaglis(R) is a trademark of Zars Pharma Inc. and Dysport(R) is a trademark of Ipsen Ltd.

All other trade names, trademarks or service marks are the property of their respective owners and are not the property of CollaGenex Pharmaceuticals, Inc. or any of our subsidiaries.


'/>"/>
SOURCE Galderma Pharma S.A.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Galderma Announces HSR Clearance for Its Proposal to Acquire CollaGenex Pharmaceuticals
2. ZARS Pharma Announces Worldwide License Agreement With Galderma Pharma S.A. for Pliaglis(TM), a Topical Local Anesthetic
3. Galderma Pharma, S.A. and ZARS Pharma, Inc. Extend Agreement to Cover Worldwide Rights for Pliaglis(TM)
4. Galderma Reaches Agreement to Acquire CollaGenex Pharmaceuticals
5. Galderma Associates Itself to Cartiers Womens Initiative Awards to Recognize Female Entrepreneurs From Around the Globe
6. ProGenTech Completes $21 Million Series C Financing
7. KV Pharmaceutical Company Completes Financial Restatement with the Filing of Fiscal 2007 Form 10-K
8. Payformance Completes Sale of Corporate Payments Division
9. PreMD Inc. Completes Debenture Financing
10. Gentiva(R) Health Services Completes Acquisition of Major Home Health Provider in CON State of Mississippi
11. Roche Completes Tender Offer for Ventana Shares
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/2/2016)... ... May 02, 2016 , ... It has just been announced Jack Uldrich, ... events throughout the month of May. , Uldrich is the author of 11 books ... also frequently appears on the Science Channel’s FutureScape and Discovery Channel’s Inside Out. , ...
(Date:5/2/2016)... (PRWEB) , ... May 02, 2016 , ... Pets bring ... a token of appreciation, pet owners celebrate National Pet Week, which falls on the ... 2016, remind pet owners to cherish the human-animal bond and recognize responsible pet ownership. ...
(Date:5/2/2016)... ... , ... “Engineering Bubbles,” an oil painting submitted by Canadian radiology resident Dr. ... at the Annual Meeting in Los Angeles. The first annual art forum was a ... Meeting attendees. , “Through art I hope to educate people about radiology and ...
(Date:5/2/2016)... ... 02, 2016 , ... Over $60 Billion is spent annually on products for ... leading product review site for Toys, Tots, Pets & More (TTPM) announced the 15 ... Showcase at the Metropolitan Pavilion in New York City. , Chosen from a field ...
(Date:5/2/2016)... ... May 02, 2016 , ... Zitter Health ... Pharmacy Patient Satisfaction Award that will recognize specialty pharmacies for their achievements in ... Health Insights’ Specialty Pharmacy Patient Satisfaction Survey compiled throughout 2016. Results will be ...
Breaking Medicine News(10 mins):
(Date:4/29/2016)... April 29, 2016 ... Financier Sanofi, leader mondial ... ses résultats pour le premier trimestre ... Jérôme Contamine, commente les résultats du ... perspectives pour le reste de l,année. ...
(Date:4/28/2016)... 2016  While Abbott,s announced purchase of St. ... repair and stent business, healthcare research firm Kalorama ... firmly into patient monitoring.  Kalorama said that patient ... areas, with double-digit growth expected the next 5 ... Remote Patient Monitoring . Abbott Laboratories agreed ...
(Date:4/28/2016)... YORK , April 28, 2016  The blood ... 275 million dollars, according to Kalorama Information and The ... typing, immunoassays and nucleic acid testing.  The healthcare research ... made progress in developing blood collection stations and in ... made in Kalorama Information,s report, Blood Testing ...
Breaking Medicine Technology: