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Teva gets approval to buy Cephalon
FRAZER, Pa. — Teva Pharmaceutical Industries got the go-ahead from Cephalon’s shareholders to acquire the Frazer, Pa.-based company in a deal worth $6.8 billion.
Teva came out as the front-runner to purchase Cephalon in May, when the drug maker spurned a takeover bid by Mississauga, Ontario-based Valeant Pharmaceuticals, which had offered $5.7 billion in March.
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Sanofi sells skin care business to Valeant Pharmaceuticals International
PARIS — French drug maker Sanofi has sold its skin care business to Canada’s Valeant Pharmaceuticals International, Sanofi said.
Sanofi said the $425 million sale of its dermatology business, Dermik, would allow it to focus on its core businesses. Valeant’s business is much more focused on dermatology, as well as neurology, than Sanofi’s is.