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Valeant acquires Atlantis Pharma assets

Wednesday, April 18, 2012 02:59 PM

Valeant Pharmaceuticals International has signed an agreement to acquire certain assets from Atlantis Pharma, a branded generics pharmaceutical company in Mexico, for approximately $71 million.

The acquired assets' total revenue in 2011 was approximately $26 million and is expected to deliver double digit growth in 2012. The transaction is expected to close in the second quarter, subject to certain closing conditions including regulatory approvals, and is expected to be immediately accretive.

"Atlantis Pharma's well-known brands in Mexico, and the potential to expand our export business to Central America and the Andean region, make this a strong addition to our current operations in Mexico," said J. Michael Pearson, chairman and CEO of Valeant. "The ability to combine these assets with our existing operations in Mexico should provide distinct commercial synergies for our overall business."

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