San Mateo, Calif. — German pharmaceutical company Merz Pharma Group will acquire BioForm Medical, based here, for $253 million in cash, news source Modern Healthcare reports.
BioForm’s products include dermal fillers and a developmental injectable treatment for varicose veins. According to a company press release, BioForm reported about $66 million in revenue for the fiscal year ending June 30, 2009, and expects to generate between $64 million and $70 million in its current fiscal year.
The transaction has been approved by both companies’ boards of directors and will likely close during 2010’s first quarter.
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