Galderma ups ante in Q-Med bid

February 16, 2011

Galderma, the L’Oréal/Nestlé joint venture based here, has received the necessary regulatory approvals in its bid for Swedish medical device firm Q-Med, the New York Times reports.

Lausanne, Switzerland - Galderma, the L’Oréal/Nestlé joint venture based here, has received the necessary regulatory approvals in its bid for Swedish medical device firm Q-Med, the New York Times reports.

Galderma has raised its offer for the beauty products maker to $1.2 billion, thus winning agreement of the major institutional shareholders, the Times reports.

The company expects to successfully complete its acquisition before the Feb. 24 expiration of the new offer.

Q-Med is the maker of the dermal filler Restylane (hyaluronic acid) and Macrolane (hyaluronic acid), an injectable gel used in breast enlargement and body contouring. Macrolane is not approved for sale in the United States. Medicis Pharmaceutical, based in Scottsdale, Ariz., markets Restylane in North America.

Galderma makes products used in treating diseases such as acne, psoriasis and skin cancer.