Nycomed to acquire Bradley
a bid to make a niche for itself in the dermatology market.
The acquisition, which is still subject to Bradley shareholder approval, will add further branded dermatologics to the PharmaDerm division of Nycomed US, with the aim of enhancing the company's position in the US market. "The acquisition of Bradley provides us with a unique opportunity to strengthen our dermatology expertise in the US with successful products and capabilities that match ours perfectly. The acquisition enables us to gain critical mass in the dermatology market and provides significant momentum for further add-on investments," Nycomed chief executive Hakan Bjorklund said in a statement. Nycomed US chief executive Paul McGarty said: "This brings together the strengths of both companies with the objective of creating a leading specialty pharmaceutical player in dermatology." Through the acquisition, Nycomed will take on more than 40 products in the areas of dermatology and podiatry, gastrointestinal, respiratory and women's health. Under the dermatology and podiatry area, Bradley markets products for acne/roseaca, keratolytic (dry skin and nail disorders), actinic keratoses (pre-cancerous skin lesions), topical anaesthetics and anti-dandruff products. Nycomed US spokeswoman Angie Cecil told in-PharmaTechnologist.com no integration plan had yet been put in place as to what products might be kept or not. As Bradley contracts out its manufacturing, no facilities are included in the transaction. In a statement, Nycomed said it planed to leverage its manufacturing and distribution capabilities to support the Bradley products line, improve customer service and optimise the cost structure, and leverage combined sales and marketing capabilities. Nycomed intends to delist Bradley. Bradley non-executive chairman Seth Hamot said: "We are pleased that Nycomed will acquire Bradley. The auction process was thorough and our board believes that this transaction is in the best interests of our stockholders." The acquisition follows the formation of a special committee by Bradley in May to consider the company's strategic alternatives and the possibility of acquisition. The transaction is expected to close in the first quarter of 2008.
