Merz Pharma Group said that it acquired Neocutis S.A., a dermatology company based in Switzerland. The transaction forms part of Merz Pharma's overall strategy to become a market leader in cosmetics and medical field.

Philip Burchard, CEO of Merz, is optimistic about the returns of the transaction as Neocutis has already penetrated the U.S. market. "This transaction is an important step to expand our U.S. business, as Neocutis products are an excellent addition to our own aesthetics portfolio," Burchard said.

This is echoed by Bill Humphries, the President of Merz North America, who said the deal immediately brings Merz Pharma to an even bigger platform in the U.S. market by leveraging on Neocutis' established clients and its expertise in the aesthetics business.

"Neocutis' line of topical skin care products complements our current portfolio of aesthetic injectable products and expands our ability to provide patients and physicians with innovative, high-quality aesthetic products along the full continuum of care," Humphries said.