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.
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