Novartis/Fougera Pharma

Target: Fougera Pharma
Buyer: Novartis ($NVS)
Price: $1.5 billion
Closed: July 23, 2012

Novartis wanted more skin in the generics game, and it got it in specialty dermatology drugmaker Fougera Pharma. By adding Fougera's drugs to the portfolio held by Sandoz, the Swiss company's generics unit, it suddenly was the leader in dermatology knockoffs. The deal also promised to add some revenue as Novartis' top drug, Diovan, headed for generic competition irrelevance.

Novartis has plans to expand the business to take advantage of the growing number of branded dermatology drugs going off patent. It also sees opportunities to build it internationally. As Sandoz CEO Jeff George said at the time, "We see great potential to take a business that's a U.S. business and take it globally."

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Novartis/Fougera Pharma