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Nestlé makes skincare deal with Canadian firm

Swiss giant Nestlé says it it is strengthening its hand on the specialized medical skin treatment market via a $1.4-billion cash deal with Canadian firm Valeant Pharmaceuticals International.

“With this deal we have acquired key strategic assets to extend Nestlé’s activities in the field of specialized, medical skin treatments,” the group’s chairman Peter Brabeck-Letmathe said in a statement issued on Wednesday.

The deal, worth about one billion euros, still needs a green light from regulators.

It would see Nestlé acquire the rights to commercialize several of Montreal-based Valeant’s key aesthetic dermatology products in the United States and Canada.

“The two markets together represent more than half of the fast-growing medical aesthetics market around the world,” Nestlé said in a statement.
Nestlé makes skincare deal with Canadian firm

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