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Galderma Gets Competition Approvals to Buy Q-Med

From M&A Navigator (February 11, 2011)

Swiss pharmaceutical company Galderma Pharma said on Friday it had won all regulatory approvals for its bid to buy Swedish biotech firm Q-Med AB (STO:QMED), except for the one in Cyprus which it expects to get soon.

Galderma, a L’Oreal (EPA:OR) and Nestle (VTX:NESN) joint venture, raised on Thursday its offer for Q-Med to SEK79 (USD12.09/EUR8.94) per share from SEK75, valuing the company at SEK7.9bn.

Q-Med shareholders owning 78% in the company have already pledged acceptance to Galderma¢?¬s offer, the buyer said.

Country: , Sweden

Sector: Biotechnology

Target: Q-Med AB

Buyer: Galderma Pharma SA

Deal size in USD: 1.2bn

Type: Corporate acquisition

Status: Bidding

Comment: Galderma gets regulatory clearance, except for Cyprus.

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Posted: February 2011

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