Taro Completes Acquisition of Alchemee

Rhea-AI Summary

Taro Pharmaceutical Industries Ltd. (NYSE: TARO) has successfully acquired Alchemee, the former Proactiv Company, from Galderma. This acquisition includes Alchemee's global business and assets, notably the Proactiv brand, a leading acne care solution for over 25 years. CEO Uday Baldota highlighted that this move reinforces Taro's position in over-the-counter dermatology and adds marketing capabilities from Alchemee. Alchemee's Global Head, Shannon Pappas, expressed confidence that this strategic acquisition will foster growth in skincare.

Positive

• Strengthens Taro's position in over-the-counter dermatology.
• Acquisition of Proactiv enhances product portfolio.
• Incorporation of Alchemee's marketing expertise.
• Potential for growth in the skincare market.

Negative

• None.

HAWTHORNE, N.Y.--(BUSINESS WIRE)-- Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (“Taro”) today announced the completion of its acquisition of Alchemee, formerly The Proactiv Company (TPC), from Galderma. The acquisition includes Alchemee’s business and assets worldwide, including the Proactiv^® brand.

“This acquisition demonstrates Taro’s commitment to strengthening our position in the over-the-counter dermatology space,” said Uday Baldota, Taro’s CEO. “In addition to adding Proactiv^® to our product portfolio, we are also gaining the omni-channel marketing capabilities and expertise of the Alchemee team. We look forward to working with them to continue Proactiv^®’s legacy as an iconic brand synonymous with acne care.”

Alchemee's flagship brand, Proactiv, is America’s #1 acne routine¹ and has been used and trusted by millions around the world for more than 25 years.

“We are excited for Alchemee and its marquee brand, Proactiv^®, to join the expansive Taro portfolio of prescription and over-the-counter dermatology products,” said Shannon Pappas, Global Head of Alchemee. “This strategic move further positions Alchemee for continued growth in the skincare space.”

1. Based on 2021 FDM/Specialty retail sales.

About Taro

Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company, dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For further information on Taro Pharmaceutical Industries Ltd., please visit the Company’s website at www.taro.com.

Forward-Looking Statements

Some of the information contained in this press release may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Neither Taro nor Alchemee has any obligation to publicly update or revise any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220228006187/en/

Taro

William J. Coote

VP, Chief Financial Officer

(914) 345-9001

William.Coote@taro.com

Source: Taro Pharmaceutical Industries Ltd.

FAQ

What is the significance of Taro's acquisition of Alchemee?

The acquisition strengthens Taro's position in the over-the-counter dermatology market and adds the Proactiv brand to its portfolio.

How does Taro plan to utilize Alchemee's marketing capabilities?

Taro aims to leverage Alchemee's omni-channel marketing expertise to enhance the Proactiv brand's presence and growth.

What are the expected impacts of the Proactiv brand on Taro's portfolio?

Proactiv is America’s leading acne treatment brand, and its addition is expected to boost Taro's market presence and revenue in skincare.

When did Taro complete the acquisition of Alchemee?

Taro announced the completion of the acquisition on the date of the press release.