Kaye Scholer LLP is representing Novartis on the purchase, by generics division Sandoz, of specialty dermatology generics company Fougera Pharmaceuticals for $1.525 billion in an all cash transaction. The sellers are a consortium of private equity funds led by Nordic Capital, DLJ Merchant Banking (a Credit Suisse affiliate) and Avista Capital Partners.
Pending regulatory approvals, this acquisition will improve Sandoz’s ability to help patients and customers around the world by providing easier access to high quality, affordable dermatological medicines. With this move, Sandoz will also become the number one generic dermatology medicines company both globally and in the US.
The Kaye Scholer team was led by Partner Adam Golden, along with Partner Derek Stoldt, Associates Tracy Romano and Dino Yiannoupolous (Corporate). Corporate Counsel Peter Danias and Associates Connie Ericson, Jane Wilson and Tiffany Graddick also advised on the matter, as well as Partners Saul Morgenstern and Claudia Higgins (Antitrust); Partners Laurie Abramowitz and Jeff London, Associate Brian Witkowski (Tax); Partners David Barr, Manvin Mayell, Glenn Pogust, Kerry Scanlon and Sebastian Jungermann, Counsel Tatiana Alyonycheva, Of Counsel Mark Godler, Associates Evan Elan, David Forchheimer and Noah Peters (Litigation); and Counsel Victoria Frankenburg and Associate Jeremy Crystal (Real Estate).
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