Healthcare Industry News: Nordic Capital
News Release - May 19, 2011
Nycomed's US Dermatology Business to Become an Independent Entity Following Nycomed's Acquisition by TakedaNycomed US to become an independent corporation, owned primarily by its current private equity owners
The company has a long history as a fully integrated stand-alone dermatology business
Nycomed US remains number one manufacturer and marketer of prescription topical dermatological products in the US.
MELVILLE, N.Y., May 19, 2011 -- (Healthcare Sales & Marketing Network) -- Nycomed US Inc., a wholly owned subsidiary of Nycomed, announced today that it will become an independent corporation and will no longer be affiliated with Nycomed following the acquisition of its parent company by Takeda Pharmaceutical Company Ltd. Nycomed US will continue to be owned primarily by Nordic Capital Inc, Credit Suisse and Avista Capital Partners, its current private equity owners.
The company, founded over 160 years ago, has a long history as a fully integrated stand-alone dermatology business which was outside Nycomed's core global strategy and is not part of the Takeda acquisition of Nycomed. Nycomed US remains the number one manufacturer and marketer of prescription topical dermatological products in the US.
The company, including its Fougera and PharmaDerm divisions, will retain its company headquarters in Melville, New York. The management and day-to-day operations of the group will remain unchanged, led by Steve Andrzejewski, its Chief Executive Officer. The new ownership structure will become effective with the closing of Takeda's acquisition of Nycomed, expected in the third quarter of 2011.
Hakan Bjorklund, Chief Executive Officer of Nycomed, said: "The US Dermatology Specialty Business is of the highest quality and is a leader in the dermatology field in the US. It has made a significant contribution to Nycomed and we believe has a highly promising future under the new and highly supportive ownership structure."
Commenting on this development, Steve Andrzejewski, said, "Our expertise in topical drug development, manufacturing, and commercialization has established Nycomed US as a leader in the US specialty dermatology market. This transaction will enable us to continue to invest and grow as a stand-alone specialty company, and to work directly with our investors to capitalize on the many opportunities available in the dermatology market today. Although Nycomed US made a significant contribution to Nycomed on a global basis, our product portfolio was outside Nycomed's stated strategy and our investors believe we have a highly promising future under this separate ownership structure. For our customers and employees, there is no change to our day-to-day focus and it remains business as usual."
About Nycomed US
Nycomed US is a fully integrated US based specialty pharmaceuticals company focused on dermatology with net revenue approaching $500 million and over 700 employees. Our goal is to develop products that will help improve the lives of patients with skin disease, and to assure quality and availability of these important therapies over time. Together with its Fougera and PharmaDerm divisions, Nycomed US is committed to delivering and maintaining a broad portfolio of important new and cost effective dermatological products throughout the product lifecycle. Founded in 1849, Fougera is the leading manufacturer and distributor of a wide range of topical products. PharmaDerm is dedicated to developing and commercializing novel prescription products to treat diseases and conditions of the skin—the largest organ of the human body. For more information on Nycomed US visit nycomedus.com.
Source: Nycomed US
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