Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Valeant Pharmaceuticals has signed an agreement to acquire a Brazilian pharmaceutical firm that primarily focuses on branded generic and over the counter (OTC) products for $56m.
Subscribe to our email newsletter
Michael Pearson, chairman and CEO of Vale ant Pharmaceuticals, said: “This latest transaction, along with Valeant’s acquisition of Institutor Terapeutico Delta last month, will be our second acquisition in Brazil this year.
“We see strong synergism between these two acquisitions and our current operations in Brazil and believe that the combination of all three businesses will provide Valeant with expanded opportunities for growth in Brazil and enhance our Latin American franchise.
“This new business operation has had product sales that have grown in excess of 30% over the last year, while also achieving operating margins greater than 20%. Incorporating our new manufacturing plant in Indaiatuba will also provide us the ability to achieve significant growth and synergism across all three businesses.”
The transaction, which is subject to customary closing conditions, is expected to close in the second quarter of 2010 and is expected to be accretive to Vale ant in 2010.
Valeant Pharmaceuticals is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology and dermatology.