Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Valeant Pharmaceuticals has signed a binding agreement to acquire a private branded generics and over the counter (OTC) company located in Brazil for approximately US$28m.
Subscribe to our email newsletter
Reportedly, in a separate transaction, Valeant is expected to acquire a new 165,000 square foot manufacturing plant approved to produce solids, semi-solids and liquids for approximately US$28m.
Valeant Pharma said that both transactions, which are subject to customary closing conditions, are expected to close in the second quarter of 2010 and will be collectively accretive to Valeant in 2010.
Michael Pearson, chairman and CEO of Valeant Pharma, said: “We are excited to advance our dermatology presence in the Brazilian market. This acquisition gets us closer to building the critical mass we need in the Brazilian pharmaceutical market.”
“The new plant will allow us to close our current subscale manufacturing facility and eliminates the need for any third party manufacturers – the combination of which should allow us to significantly improve margins.”