Galderma to purchase GollaGenex for $420 million

NEWTOWN, Pa. CollaGenex Pharmaceuticals has agreed to be acquired by Galderma Laboratories in a deal worth about $420 million, according to published reports. The board of directors of CollaGenex and Galderma unanimously approved the transaction.

CollaGenex manufactures the drug Oracea for the treatment of rosacea and is also developing Col-118, for the treatment of the erythema associates with rosacea.

“Galderma was the first pharmaceutical company to develop a topical product indicated for the treatment of rosacea,” Colin Stewart, president and chief executive officer of CollaGenex, said. “Oracea, combined with the successful development of Col-118, will enable Galderma to offer physicians and patients a full suite of complementary pharmaceutical products to treat rosacea.”