To: richardred who wrote (2274 ) 12/14/2010 12:52:02 AM From: richardred Respond to of 7252 UPDATE 2-Galderma bids $967 mln for Swedish implant firm Q-Med By Helena Soderpalm STOCKHOLM, Dec 13 (Reuters) - Galderma, a joint venture between L'Oreal (OREP.PA) and Nestle (NESN.VX), launched a bid for Sweden's Q-Med (QMED.ST) for about $970 million, creating a bigger rival in anti-ageing treatments to Botox maker Allergan Inc (AGN.N). Cosmetic surgery is growing massively across the world with Botox and other facial filler treatments among the most popular procedures. [ID:nN14151304] Buying Q-Med would give Galderma access to the Swedish firm's Restylane product, an alternative to Botox for smoothing out wrinkles and making faces look plumper and younger. Q-Med also produces a gel that is used in breast enlargement and body contouring without the need for surgery. Galderma, which makes products aimed at treating skin, hair and nail diseases like acne, psoriasis and skin cancer, said the offer was worth around 75 crowns per share. It values Q-Med at 32.9 times earnings per share in the 12 months to end-September. That compares with a price-to-earnings ratio of about 22 times at Allergan, and 12.2 times at U.S. partner Medicis, according to Thomson Reuters data. Medicis Pharmaceutical Corp (MRX.N) sells Restylane in North America. "We have called the 10 biggest owners to tell them about the offer and have had a positive reaction," Anders Milton, a director and Chairman of the bid committee at Q-Med said. Shares in Q-Med, which made a pretax profit of 756 million Swedish crowns on revenues of 1.4 billion in 2009, were up 12.8 percent at 74.75 crowns at 1238 GMT, indicating the market belives that the deal will go through.reuters.com