Investment Research and Business Due Diligence
Thursday, August 1, 2013
Merz acquires cosmetics and over the counter and prescription skin care business of switzerland based dermatology company Neocutis
Merz Pharma Group has acquired the cosmetics, over the counter and Rx skin care businesses of Swiss dermatology company Neocutis. Germany-based Merz, which operates its North American headquarters in Greensboro, said that the acquisitions will strengthen Merz’s position in the field of aesthetic products and reflects Merz’s strategy to position itself as a global leader in medical and aesthetic dermatology.
No financial terms were disclosed in the deal to acquire the businesses units from privately-held Neocutis.
Merz said the acquisition, which closed on July 22, 2013, will be managed in North America by Merz Pharma Group’s U.S. affiliate, Merz North America, Inc., which will also integrate marketing of Neocutis’ line of physician-dispensed topical skin care products in the United States.
“Neocutis’ line of topical skin care products complements our current portfolio of aesthetic injectable products and expands our ability to provide patients and physicians with innovative, high-quality aesthetic products along the full continuum of care,” President and CEO of Merz North America Bill Humphries said in a statement..
The Neocutis deal comes several weeks after Merz licensed a topical, medicated foam technology from Israel-based company Foamix. Humphries added that Merz expects to grow organically as well as through additional licensing and acquisition opportunities.
Neocutis S.A. was founded in February 2003 as a spin-off of the medical faculty of the Lausanne University Clinic, Switzerland. The company is headquartered in Lausanne, Switzerland and develops and distributes cosmetic products for dermatologic conditions and anti-aging skincare. Neocutis entered the U.S. market in 2009.
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