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1.3 million shares that were tendered pursuant to the guaranteed delivery procedures) have been tendered into, and not withdrawn from, the offer.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:2/5/2016)... Lake City, UT (PRWEB) , ... February 05, 2016 , ... ... Activz Whole-Food Nutrition , announced that the much-anticipated feature with author Jahnavi Foster, specialist ... Cool Humans Amateur TV Network. , Each week, on his weekly Whole-Food Warrior TV ...
(Date:2/5/2016)... , ... February 05, 2016 , ... ... the addition of micro-needling services in their Napa Valley office. The technique utilizes ... Plastic Surgery Associates, Dr. Canales and Dr. Furnas, are part of only a ...
(Date:2/5/2016)... ... 05, 2016 , ... The Lymphoma Research Foundation (LRF) – ... serving the lymphoma community through a comprehensive series of education programs, outreach initiatives ... Tasting Event at the La Gorce Country Club in Miami Beach on March ...
(Date:2/5/2016)... York, New York (PRWEB) , ... February 05, 2016 , ... ... gym use and find themselves having to wait longer to access the treadmills. It’s ... their New Year’s resolutions to lose weight and get in shape by joining gyms, ...
(Date:2/5/2016)... New York, New York (PRWEB) , ... February 05, 2016 , ... ... (APDA) announced the election of Patrick McDermott as Chairman of the National Board of ... welcome Pat as Chairman of the Board,” stated Leslie A. Chambers , APDA ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... 4, 2016   Bernstein Liebhard LLP today announced ... United States District Court for the District of ... consisting of all persons or entities who purchased common shares ... INSY ) from March 3, 2015 through January 25, 2016 ... its officers with violations of the Securities Exchange Act of ...
(Date:2/4/2016)... LONDON , Feb. 4, 2016 ... Summary Global Markets Direct,s, ,Wegener Polyangiitis - ... the Wegener Polyangiitis,s therapeutic pipeline. This report ... Wegener Polyangiitis, complete with comparative analysis at various ... action (MoA), route of administration (RoA) and molecule ...
(Date:2/4/2016)... Summary Breast cancer, a malignant neoplasm, is the ... in women worldwide, accounting for 16% of all female ... women diagnosed with breast cancer has increased over the ... declined due to earlier diagnosis and better treatment options. ... past four decades, especially with increasing usage of targeted ...
Breaking Medicine Technology: