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news.Valeant Pharmaceutical's subsidiaries Valeant Pharmaceuticals North America (VPNA) and Valeant International (Barbados) (VIB) have entered into an agreement to acquire Janssen Pharmaceutical's Ortho Dermatologics division.
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Valeant will pay Janssen $345m for prescription brands like RETIN-A MICRO, ERTACZO and RENOVA.
Valeant Pharmaceutical chairman and CEO Michael Pearson said with the combination of this transaction and other recently announced transactions, Valeant is well on its way to being dermatology company.
The transaction is subject to certain closing conditions and regulatory approvals and is expected to be accretive in 2011.