Valeant buys Brazilian branded generics/OTC firm for $28 million and pays further $28 million for manufacturing facility
California, USA-based Valeant Pharmaceuticals International says it has signed a binding agreement to acquire a private, branded generics and over-the-counter (OTC) medicines company located in Brazil for around $28 million.
A large portion of the unnamed firm's product portfolio is in dermatology and the company had annual sales of approximately $19 million in 2009. Over the past five years, this company has delivered a compound annual growth rate of nearly 15%.
In a separate transaction, Valeant will acquire a new 165,000 square foot manufacturing plant approved to produce solids, semi-solids and liquids for approximately $28 million. Both transactions, which are subject to customary closing conditions, are expected to close in the second quarter of 2010 and will be collectively accretive to Valeant in 2010.
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