ICN Pharma buys Solco of Switzerland

6 July 2000

ICN Pharmaceuticals has acquired the Swiss pharmaceutical firm SolcoBasel AG for an undisclosed fee. Solco, which makes dermatology and skin care products, posted revenues of $28 million in 1999.

ICN's chief executive, Milan Panic, said the acquisition allows the firm to strengthen its pharmaceutical business opportunities in western and eastern Europe, as well as in Asia. It will also be gaining a manufacturing facility in Basel, Switzerland, and 250 staff.

The news follows the announcement that ICN has also acquired SLS Biophile of Swansea, Wales, when again financial terms were not disclosed. The latter possesses patented laser-based non-ablative wrinkle reduction technology, and Mr Panic said that the deal will allow ICN to build up its product platform in dermatology. At the same time, the firm can explore treatment of other conditions that may be suitable for photodynamic therapy, he added.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK





Today's issue

Company Spotlight