Swiss drugmaker Novartis AG's Sandoz division has completed its $1.53 billion purchase of dermatology drug maker Fougera Pharmaceuticals.
Sandoz said Monday that Fougera, which is based in Princeton, N.J., will be integrated into its U.S. business, which is headquartered in Melville, N.Y. Sandoz sells generic drugs, and it said Fougera will help position it as the top generic dermatology medicine producer globally and in the United States.
Sandoz said in May it would buy Fougera, which was owned by a group of private equity firms.
Monday's announcement came a week after the U.S. Federal Trade Commission told Novartis it will have to give up marketing rights to four skin care products, including a topical anesthetic and a psoriasis treatment, as part of the deal.
