Financial terms of the transaction have not been disclosed.

Taro Pharmaceutical Industries Ltd. Is buying Alchemee, formerly The Proactiv Company, from Galderma.

The acquisition is subject to customary closing conditions and any necessary regulatory approvals. Financial terms of the transaction have not been disclosed.

"We are excited to add Proactiv to Taro’s broad portfolio of prescription and over-the-counter dermatology products. We look forward to welcoming the Alchemee team into Taro and working together to continue to make a difference to the millions of people living with acne around the world,” says Taro CEO Uday Baldota, in a news release.

“We are proud of the work we have done together to serve customers suffering from acne around the world through Proactiv. I am confident that Taro is the right owner to build on Alchemee’s strong foundation. Their vision is aligned to Alchemee, which comes with anincredible legacy and brand equity, and a great team with a clear plan for future success,” adds Flemming Ørnskov, MD, MPH.