Thursday, September 18, 2008

DFB Pharma Shops Coria Labs to Valeant for $95M

DFB Pharmaceuticals Inc. announced Wednesday that it has sold its dermatology division, Coria Laboratories Ltd., to Valeant Pharmaceuticals International. Fort Worth-based DFB said that, under the terms of the agreement, Valeant will purchase all outstanding shares of Coria stock from DFB and other shareholders for some $95 million. The deal, DFB noted, is subject to customary closing conditions and federal regulatory approval. DFB Pharmaceuticals is a privately held provider of branded pharmaceuticals, biotechnology and pharmaceutical services. Headquartered in Aliso Viejo, Calif., Valeant Pharmaceuticals International develops, manufactures and markets neurology and dermatology pharmaceutical products. Coria Labs is also located in Fort Worth.