York buys UK's Derms Dev for L17.5 million

York Pharma has acquired fellow UK-based specialty dermatology firm Derms Development for a consideration of L17.5 million ($35.6 million), to gain an established commercial presence in the UK and France and a distribution network covering approximately 46 countries, as well as two key currently marketed brands. These are the acne cream Zindaclin (1% clindamycin phosphate), the depigmentation gel Vitix, and a portfolio of smaller brands sold in the UK and France

Derms Development's product sales in the first six months of 2007 were L2.4 million with a contract sales force of 53 medical representatives in the UK and 11 in France, while physical distribution is sub-contracted to third parties. The firm also has a wholly-owned operating firm, Crawford Healthcare in the UK, a majority-owned concern in France, Laboratoires ACM Crawford, and a number of distribution agreements with firms in Europe and Asia.