The joint ventures (JVs) will be majority owned by Meda and Valeant will own a minority interest. The joint ventures will pursue the regulatory filings and manage the commercialization of the products and Valeant will participate in a profit share.
The joint ventures will initially include products such as Sublinox (treatment of insomnia) and flupertine (pain treatment), with the option to include additional products in the future.
Michael Pearson, chairman and CEO of Valeant, said: “Through these joint ventures, Valeant will be able to increase the leverage of our business operations in Canada, Mexico and Australia, while opening up new market opportunities for Meda.”