L’Oreal Picks Up CeraVe Skin Care Via $1.3bn Deal With Valeant
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The CeraVe, AcneFree and Ambi skin-care lines will change hands from Valeant Pharmaceuticals to L’Oreal under a deal announced Jan. 10, beefing up the latter’s dermatologist-aligned Active Cosmetics division.
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L’Oréal reports CeraVe skin care sales up more than 40% year-to-date as it expands brand within US as well as in regions where it’s newly launched. French firm reported July-September sales rose 9.1% on a like-for-like basis.
At CHPA conference, IRI's lead for health care market data, Kristin Hornberger, said as manufacturers increase product prices in response to rising costs and inflationary pressures, they also should work to make their products more valuable to consumers.
L'Oreal Luxe's 10.5% like-for-like growth in fiscal 2017 substantially overshadowed the 2.2% LFL improvement in the firm's Consumer Products unit. "Maybe in the mass [channel] in the U.S. for the past two or three years, we didn't give consumers enough desire to want to buy beauty," but the company is committed to accelerating innovation and bringing consumers back, CEO Jean-Paul Agon says