Galderma, World’s Leading Company Focused Exclusively on Dermatology, Acquires Spirig

  Galderma, World’s Leading Company Focused Exclusively on Dermatology,
  Acquires Spirig

Business Wire

LAUSANNE, Switzerland -- December 12, 2012

Galderma Pharma S.A. (“Galderma”), a global specialty pharmaceutical company
focused on dermatology and Spirig Pharma A.G. (“Spirig”), a leading company in
the development, production, and marketing of dermatological products, today
announced that they have entered into a definitive agreement under which
Galderma will acquire Spirig.

“We are delighted to join forces with Spirig Pharma” said Humberto C. Antunes,
Chief Executive Officer of Galderma: “Spirig has a holistic approach to
protecting, treating, restoring and preventing dermatological conditions which
is closely aligned to that of Galderma. With this acquisition, Galderma will
become the dermatology market leader in Switzerland, our home country.
Additionally, with our global presence, we will be able to make Spirig’s
outstanding products available to a larger number of patients around the

“Galderma fulfils all the stringent criteria we set when we started looking
for a new owner,” commented Dr. Beat Sägesser, Chief Executive Officer of
Spirig. “Becoming part of Galderma will provide Spirig with the ideal
conditions in which to develop and take its business to a new level and
provide new opportunities for our employees”.

Spirig’s products treat conditions such as solar damage and skin barrier
function impairment. In addition, the company has a range of medically-proven
products that prevent pre-cancerous conditions, such as actinic keratosis, a
type of non-melanoma skin cancer. Leading brands include Excipial^®, Daylong^®
and Daylong Actinica^®.Based in Egerkingen, Spirig is the leader in
dermatology in Switzerland. With 390 employees in total, Spirig generated
sales of CHF 98.4 million in 2011.

“We are excited about our two companies’ commercial and geographic
opportunities, maximizing the value of our complementary product portfolios in
the prescription and self-medication markets,” said Albert Draaijer,
Galderma’s Vice President, Business Development and Markets, who also leads
Galderma’s Self-Medication and Aesthetic and Corrective businesses. “We look
forward to welcoming Spirig employees and to combining our efforts to better
meet the market’s needs.”

With activities focused on dermatological prescription, over-the-counter drugs
and Aesthetic and Corrective medical solutions and with an extensive product
portfolio available in 70 countries, Galderma sales were approximately CHF 1.6
billion in 2011.

Galderma intends to utilize Spirig’s Egerkingen location as headquarters to
its Swiss market operations and as a center-of-excellence. The global
corporate headquarters of Galderma remain in Lausanne. The transaction is
expected to close in early 2013, subject to the fulfilment of customary
closing conditions.

About Galderma
Galderma is a global company founded in 1981 committed to delivering
innovative medical solutions to meet the dermatological needs of people
throughout their lifetime while serving healthcare professionals around the
world. The company has 31 wholly-owned affiliates with a worldwide network of
distributors and more than 4,000 employees. Galderma’s extensive product
portfolio is available in 70 countries and treats a range of dermatological
conditions including: acne, rosacea, onychomycosis, psoriasis &
steroid-responsive dermatoses, pigmentary disorders, skin cancer and medical
solutions for skin senescence.

With approximately 20% of revenues invested each year to discover and develop
new products and access innovative technologies, the company is one of the
world’s leading investors in dermatology R&D. Four state-of-the-art R&D
centers and four manufacturing sites are dedicated to providing a wide range
of innovative medical solutions which meet the highest standards of safety and

Strategic brands include Epiduo^®, Oracea^®, Clobex^®, Differin^®,
Rozex^®/MetroGel^®, Silkis^®/Vectical^®, Tri-Luma^®, Loceryl^®, Cetaphil^®,
Metvix^®, Azzalure^®, Restylane^®  and Emervel^®.

About Spirig
Spirig Pharma AG from Egerkingen, Switzerland is a leading company in the
development, production, and marketing of dermatological and dermacosmetic
products with over 60 years of experience. Spirig employs 270 associates in
Switzerland and an additional 120 associates in international subsidiaries;
Spirig also has distribution partners in 15 markets. Spirig Pharma AG provides
exceptional products and services to dermatologists, general practitioners,
drug stores, and pharmacies. Its well-known brands include Daylong^® for sun
protection and Excipial^® for the care of dry, sensitive skin.

Credit Suisse acted as financial advisors, Homburger acted as legal advisors
and Ernst & Young acted as transaction advisors to Galderma. Kurmann Partners
acted as financial advisors and Lenz & Staehelin acted as legal advisors to


Vanessa Duviquet
Director Marketing Services and Corporate Communications
+33 1 58 86 45 60
Dr. Beat Sägesser
Chief Executive Officer
+ 41 62 387 87 69
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