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news.Valeant Pharmaceuticals International has entered into an agreement to acquire Natur Produkt International, a specialty pharmaceutical company in Russia.
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Valeant will purchse Natur Produkt for approximately $180m, with an additional $5m in potential future milestones.
The transaction is expected to close by mid-2012, subject to certain closing adjustments and regulatory approvals, and is expected to be immediately accretive.
Natur Produkt is a manufacturer of the over-the-counter (OTC) products in several categories marketed under the umbrella brand, Natur Produkt.
Valeant chairman and chief executive officer Michael Pearson said the OTC market is also one of the fastest growth components of the Russian healthcare system.
"The addition of this high-growth operation, along with our previously announced acquisition of certain assets from Gerot Lannach, will bring our pro forma revenues in Russia to approximately $175 million by the end of 2012," Pearson added.