Nestle adds skincare muscle by completing Valeant deal

Swiss food giant Nestle announced Thursday that it had bolstered its hand in the medical skin treatment market by finalising a deal with Canada's Valeant Pharmaceuticals International. "As a result of the successful conclusion of the regulatory process and customary closing conditions, Nestle today completed its acquisition of Valeant Pharmaceuticals International's commercialisation rights to several key injectable aesthetic dermatology products in the US and Canada," a statement said.
The deal, worth around $1.4 billion, was announced on May 28 but needed a green light from regulators to be complete. North America accounts for more than half of the fast-growing global medical aesthetics market, according to Nestle.