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news.Valeant Pharmaceuticals International has decided to acquire certain assets from Swiss Herbal Remedies for less than one times sales.
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The transaction is likely to close by June 2012, subject to certain closing conditions and is anticipated to be accretive in 2012.
Valeant chairman and chief executive officer Michael Pearson said, "Swiss Herbal currently holds a leading position in the Canadian consumer channel and will complement our other product offerings, such as COLD-FX, in this important market segment."
Swiss Herbal is a nutraceutical company that manufactures a range of scientifically formulated vitamins, minerals and supplements. Total net revenue from acquired assets was approximately C$28m in 2011.