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news.Valeant Pharmaceuticals has agreed to acquire iNova, a pharmaceutical group which sells and distributes prescription and over-the-counter (OTC) products in Australia, New Zealand, Southeast Asia and South Africa.
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Under the terms of the agreement, Valeant will pay iNova shareholders A$625m ($623.39) upfront and up to an additional A$75m ($74.81) in potential milestones.
Valeant Pharmaceuticals develops, manufactures and markets various products primarily pertaining to neurology, dermatology and branded generics.
iNova manufactures and markets prescription and OTC pharmaceutical products in the Asia Pacific region and South Africa, including therapeutic weight management brands such as Duromine, and OTC brands like Difflam and Duro Tuss.
The deal is subject to certain closing conditions and post-closing adjustments, and is expected to be immediately accretive.