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Crescita Therapeutics(TM) Announces Acquisition of Alyria® Skincare Products
Crescita Therapeutics™ Announces Acquisition of Alyria® Skincare Products ...
About this update from Crescita Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nCrescita Therapeutics™ Announces Acquisition of Alyria® Skincare Products\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Aug. 8, 2017\n\n\n\nMISSISSAUGA, ON, Aug. 8, 2017 /CNW/ - Crescita Therapeutics Inc. (TSX:CTX) (Crescita or the Company), a commercial dermatology company with a portfolio of non-prescription skincare products and prescription drug products, today announced that its wholly owned subsidiary, INTEGA Skin Sciences has acquired the Alyria skincare line of products from Sanofi Consumer Health Inc.  \n\n\n \n \n\n \nAlyria is a high-quality, non-prescription, line of medical skincare products sold into medical spas. The product is highly complementary to INTEGA's Pro-Derm™ product offering and will be sold through Crescita's existing sales force. \n\nCrescita purchased Alyria for cash consideration of $1.7 million, consisting of a combination of fixed cash installments, of which $0.8 million will be paid in 2017, as well as a royalty agreement based on a threshold of annual net sales of Alyria  over a nine-year period starting in 2020.\n\nKey Benefits of the Transaction:\n\n\nImmediately accretive to revenue and gross margin for Crescita;\nProducts are complementary to our Laboratoire Dr Renaud™ and Pro-Derm brands with offerings in areas not currently part of INTEGA's portfolio;\nBroadens Crescita's customer base with the potential for growth of existing products to new customers;\nProducts will be sold and marketed through Crescita's current sales and marketing teams; and\nManufacturing for some of the Alyria products will be transferred to Crescita's Laval facility.\n\n\"This acquisition provides Crescita with a number of immediate benefits, including synergies in leveraging our sales and marketing infrastructure and know-how, increasing our manufacturing capacity utilization and increasing our product offering to international markets. In addition, we gain more than 200 new customers to expand the sales reach of our existing product lines,\" said Serge Verreault, Cresci...