Valeant acquires Visudyne from QLT

Tuesday, September 25, 2012 10:57 AM

Valeant Pharmaceuticals International, a multinational specialty pharmaceutical company, has acquired Visudyne, used to treat abnormal growth of leaky blood vessels in the eye caused by wet age-related macular degeneration, from QLT.

Valeant paid $62.5 million upfront for all U.S. rights and available inventories for Visudyne, which had U.S. revenue of approximately $21 million in 2011, and another $50 million upfront for rights to non-U.S. royalties on Visudyne sakes, which were approximately $14 million in 2011. Valeant has also agreed to pay an additional $5 million in contingent payments relating to the development of QLT’s laser program in the U.S. and up to $15 million in contingent payments relating to the non-U.S. royalties. Additionally, Valeant has manufacturing rights and assumed a supply agreement for outside of the U.S. The transaction is expected to be immediately accretive.

“We are excited about the opportunity to add a complementary product to our growing ophthalmology business,” said J. Michael Pearson, chair and CEO of Valeant. “Not only will we be able to use Visudyne to better leverage our current ophthalmology sales force with a complementary product to Macugen, we are pleased to add a product that retinal specialists around the country can use as an adjunctive to products like Macugen to improve treatment options.” 

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

December 15

Cancer Treatment Centers of America chooses WCG as its exclusive IRB, sheds five local hospital IRBs

Five southern research groups form public-private network to help save time, money for clients with early-stage biologics

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

December

Growing adoption of feasibility review committees
Early reports cite fewer amendments, improved cycle time

AMCs vying to better compete for industry trials
Working to conquer study start-up delays, IRB review process

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

November

Private equity driving dynamic CRO growth
Enables CROs to pursue long-term strategies, while giving the space credibility

Baby boomers poised to reshape clinical trials industry
Millions of tech-savvy consumers already track their health, expect new treatments as they age

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs