Nestlè invests another 1,4 billion euros in skincare
Nestle accelerated a push into the fast-growing skincare market on Wednesday, buying the rights to several injectable treatments for facial wrinkles and lines from Valeant International for $1.4 billion. This new venture follows the acquisition by Nestle this February of Galderma dermatology from L’Oreal.
Nestle said the deal with Valeant would give it the U.S. and Canadian rights to sell the Restylane, Perlane and Emervel injectable cosmetic treatments it already manufactures, as well as Dysport, a cosmetic treatment owned by Ipsen. It is also acquiring from Valeant a skin filler for cosmetic and medical use called Sculptra.
For Nestle, the deal marks the latest step in its quest started almost two decades ago by Chairman and then-CEO Peter Brabeck-Lemathe to transform the food company into a global leader in nutrition, health and wellness, although some analysts question whether cosmetic skin treatments fit into that category.