Taro to Acquire Alchemee From Galderma

Rhea-AI Summary

Taro Pharmaceutical Industries Ltd. (NYSE: TARO) has entered into a definitive agreement to acquire Alchemee, the former Proactiv Company, from Galderma. The acquisition includes Alchemee’s global business and the renowned Proactiv® brand, which has been trusted for acne care for over 25 years. Taro's CEO expressed excitement about the acquisition, emphasizing a commitment to addressing acne treatment for millions globally. The transaction is subject to customary closing conditions and regulatory approvals, with financial terms not disclosed.

Positive

• Acquisition of Alchemee enhances Taro's portfolio with the Proactiv® brand, a leader in acne care.
• Strategic alignment with Alchemee to leverage brand equity and operational expertise.

Negative

• None.

• Alchemee’s flagship brand Proactiv® is an iconic product synonymous with acne care

ZUG, Switzerland & HAWTHORNE, N.Y.--(BUSINESS WIRE)-- Galderma and Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (“Taro”) announced today they have signed a definitive agreement for Taro to acquire Alchemee, formerly The Proactiv Company (TPC), from Galderma. The agreement between Galderma and Taro includes Alchemee’s business and assets around the world, including the Proactiv^® brand.

"We are excited to add Proactiv® to Taro’s broad portfolio of prescription and over-the- counter dermatology products. We look forward to welcoming the Alchemee team into Taro and working together to continue to make a difference to the millions of people living with acne around the world.   UDAY BALDOTA CHIEF EXECUTIVE OFFICER TARO

Proactiv^® has been used and trusted by millions around the world for more than 25 years. Originally set up as a subscription-based business, Proactiv^® quickly became a leading U.S. consumer acne brand.

“We are proud of the work we have done together to serve customers suffering from acne around the world through Proactiv®. I am confident that Taro is the right owner to build on Alchemee’s strong foundation. Their vision is aligned to Alchemee, which comes with an incredible legacy and brand equity, and a great team with a clear plan for future success.” FLEMMING ØRNSKOV, M.D., MPH CHIEF EXECUTIVE OFFICER GALDERMA

The acquisition is subject to customary closing conditions and any necessary regulatory approvals. Financial terms of the transaction have not been disclosed.

About Alchemee
At Alchemee, we aspire to inspire. We are alchemists at heart, harnessing science to create powerful wellness solutions. The combination of alchemy and “me” offers the right mixture of science, expertise, and support that empowers our customers with confidence. Through one-of-a-kind expert-designed formulas and positive guidance, Alchemee provides solutions that are as effective as they are transformative. At Alchemee, we are committed to empowering the world one person at a time. Alchemee. Transformation beyond expectation. www.alchemee.com

About Galderma
Galderma is the world’s largest independent dermatology company, present in approximately 100 countries. Since our inception in 1981, we have been driven by a complete dedication to dermatology. We deliver an innovative, science-based portfolio of sophisticated brands and services across Aesthetics, Consumer Care and Prescription Medicine. Focused on the needs of consumers and patients, we work in partnership with healthcare professionals to ensure superior outcomes. Because we understand that the skin we’re in shapes our life stories, we are advancing dermatology for every skin story. For more information: www.galderma.com.

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 Galderma, Alchemee, nor Taro has any obligation to publicly update or revise any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220222005795/en/

Media Contact

Galderma

Christian Marcoux, M.Sc.

Chief Communications Officer

christian.marcoux@galderma.com

+41 76 315 26 50

Sébastien Cros

Director, Global Communications

sebastien.cros@galderma.com

+41 79 529 59 85

Taro

William J. Coote

VP, Chief Financial Officer

(914) 345-9001

William.Coote@taro.com

Source: Galderma

FAQ

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

The acquisition strengthens Taro's position in the dermatology market by adding the Proactiv® brand, which has significant brand recognition and consumer trust.

When was the acquisition of Alchemee by Taro announced?

The acquisition was announced on February 22, 2022.

What are the financial terms of the Taro and Alchemee acquisition?

The financial terms of the acquisition have not been disclosed.

What products are included in the acquisition by Taro?

The acquisition includes all of Alchemee’s business and assets worldwide, particularly the Proactiv® brand.

What impact is expected from Taro's acquisition of Alchemee?

Taro aims to harness Alchemee's legacy to enhance its product offerings and expand its market share in acne care.