Nestle deal with Valeant ‘skin tight’

Nestlé had tightened its grip on the medical skin treatment market by finalising a deal with Canada’s Valeant Pharmaceuticals, the Swiss food firm said yesterday. The $1.4 billion (R15bn) deal was announced in May but needed a green light from regulators to be complete. North America accounts for more than half of the global medical aesthetics market, data show. Galderma, a Nestlé and L’Oréal joint venture, became fully owned by Nestlé on Tuesday after the Swiss group completed its acquisition of L’Oréal’s 50 percent stake. – Sapa-AFP