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French drug company Sanofi-Aventis (SAN.FR) announced Monday the finalization of the sale of its Canadian dermatology business, Dermik, to Valeant Pharmaceuticals International Inc. (VRX) for $422.5 million.
In a statement, Sanofi said the transaction includes an aesthetic and therapeutic business in the U.S. and Canada, as well as an aesthetic business around the world.
Sanofi's Canadian unit will continue its operations in Greater Montreal, said the company.
-By Nadya Masidlover, Dow Jones Newswires; +33 1 4017 1740; firstname.lastname@example.org