Nestle is expanding its skincare business – both cosmetic and medical – in North America.
It is paying $1.4 billion (1.0 billion euros) in cash to Canada’s Valeant Pharmaceuticals for the rights to a range of dermatology products in that part of the world.
It is the latest move into healthcare by the Swiss company which is boosting its interest in that area as sales weaken in its main food business.
In February it took over the Galderma joint venture it had with French group L’Oreal and hinted at the time that more deals would follow as it builds up its dermatology business.
Under the agreement with Valeant, Nestle is acquiring rights to commercialise in the United States and Canada Restylane, Perlane and Emervel, products used for corrective facial cosmetic treatments, and Dysport, a cosmetic dermatology treatment. It will also get rights to Sculptra, a dermal filler for cosmetic and medical use.
Galderma already commercialises the products included in the deal outside the United States and Canada.