Valeant Announced It Will Acquire A Polish Company's Products For $18 Million (VRX)

10/30/2009 - Valeant Pharmaceuticals International (NYSE:VRX) today announced that it will acquire the rights to several prescription and cosmetic dermatology products from a Polish specialty pharmaceutical company. The products generate approximately $8 million in annual sales and Valeant will acquire the rights to all products for about $18 million. The transaction is expected to close in Q1 of 2010. Chairman and CEO J. Michael Pearson said, "We continue to focus our development efforts in building leading dermatology franchises in each of our select regions. This latest transaction adds new complementary prescription and cosmetic products to our current portfolio in Central Europe and fits in well with our existing infrastructure. In addition, the dermatology products will increase our visibility with the dermatologists in these markets."

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: acquisition, ceo, dermatology, franchises, market, nyse, pharmaceuticals, products, securities