The assets of Canderm Pharma Inc., a privately held skin care company in Montreal, are being acquired by Sanofi-aventis.
Founded by the Vogel family in 1972. Canderm will continue to operate from its location in the Montreal borough of St-Laurent, the pharmaceutical giant said in Tuesday’s announcement.
“This transaction will allow Sanofi-aventis to consolidate its dermatology portfolio under the Canderm umbrella to create a Canadian leader in medical dermatology, and to double its consumer health care sales in Canada,” the company said.
Canderm’s product range includes leading cosmeceuticals and physician-recommended dermatological products, such as NeoStrata and CliniDerm, physician-practiced cosmetic procedures, as well as over-the-counter products.
“We’re proud to be part of the next chapter in the history of a successful family-grown company,” said Barry Vogel, President of Canderm. “I am excited to work with the sanofi-aventis team to capture the significant growth opportunities this combination will create.”
