Medicis acquisition of GenDerm more than doubles OTC derma business.
This article was originally published in The Tan Sheet
Executive Summary
MEDICIS' GENDERM ACQUISITION MORE THAN DOUBLES OTC BUSINESS TO ROUGHLY $13 MIL. per year under an agreement announced by the companies Dec. 1. Medicis Pharmaceutical's acquisition of Lincolnshire, Ill.-based GenDerm will add approximately $25 mil. in annual sales, at least 50% of which is generated from over-the-counter products, Medicis said. Phoenix-based dermatological products manufacturer Medicis said it decided to purchase GenDerm to boost its OTC business, which represented 12% of its $41 mil. sales in FY 1996 (ended June 30).