Debevoise & Plimpton LLP is advising Nestlé S.A. in its agreement to acquire from Valeant Pharmaceuticals, for $ 1.4 billion in cash, several key aesthetic dermatology products in the U.S. and Canada. North America represents more than half of the world’s fast-growing medical aesthetics market.
The assets will reside within Nestlé’s Skin Health division, which was formed in anticipation of Nestlé’s pending acquisition, previously announced, of the remaining 50% stake in Galderma Pharma S.A. that it does not already own. Galderma is the leading pharmaceutical firm focused exclusively on dermatology. Nestlé, based in Vevey, Switzerland, is one of the world’s largest companies and has a broad line of product offerings, including in nutrition, health and wellness.
The deal was entered into in connection with Valeant’s pending $47 billion unsolicited offer for Allergan in order to address certain potential antitrust issues that would arise if that transaction is consummated.
The Debevoise team is led by partner Kevin A. Rinker and includes partners Jeffrey P. Cunard, Gary M. Friedman and Jonathan F. Lewis, and associates Zhiyan Cao, Samuel M. Duncan, Bari Friedman, Manuel Giner, Jill Greenfield, Uri Herzberg, David P. Iozzi, Ross Liemer, John Rothert and Maxine Sharavsky.
Debevoise & Plimpton LLP is a leading international law firm, representing a wide range of clients in transactions and disputes around the world. Founded in 1931, the firm has offices in New York, Washington, D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.