Rohto Pharmaceutical, a Japanese maker of over-the-counter drugs, bought the rights of the Obagi trademark in Japan.WHO: Osaka-based Rohto Pharmaceutical Co., Ltd. is a Japanese multinational corporation with over 125 years of history and a core business in OTC drugs and skincare. Obagi Japan is a skincare brand in the company's portfolio.Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. The first step in realizing its vision was the business combination with Obagi Cosmeceuticals and Milk Makeup.WHY: The company is currently undertaking a review of a broad range of strategic alternatives focused on maximizing shareholder value. The transactions reflect a continued focus on improving its capital structure while the review is ongoing.IN THEIR OWN WORDS: “This has been an important week for Waldencast and we are pleased to enter into these two transactions, both of which provide a source of funding that will substantially strengthen our balance sheet as we continue to explore a range of strategic options,” said Michel Brousset, Chief Executive Officer of Waldencast.DETAILS:Rohto Pharmaceutical bought the rights of the Obagi trademark in Japan for $82.5 million.