Galderma to acquire Restylane-maker Q-Med

Uppsala, Sweden - Swiss pharmaceutical company Galderma is close to acquiring Q-Med, the Sweden-based maker of Botox rival Restylane (hyaluronic acid), for about $970 million, Reuters reports.

The move not only would give Galderma access to Restylane, but to Macrolane (hyaluronic acid), a gel used in breast enlargement and body contouring. Medicis Pharmaceutical, based in Scottsdale, Ariz., markets Restylane in North America.

Galderma, which makes products used in treating diseases such as acne, psoriasis and skin cancer, is owned in a joint venture between L’Oréal and Nestlé.

According to Reuters, Q-Med’s board of directors has backed the acquisition, and once the deal goes through there will be no change in Q-Med’s strategy of focusing on Restylane and developing more products for its cosmetic product line.