Monday, July 18, 2011
Valeant Pharmaceuticals International subsidiaries Valeant Pharmaceuticals North America (VPNA) and Valeant International (Barbados) SRL (VIB), have signed an agreement to acquire the assets of the Ortho Dermatologics division of Janssen Pharmaceuticals. Valeant will pay Janssen $345 million for the assets, which includes prescription brands RETIN-A MICRO, ERTACZO, and RENOVA. Total revenue for the product portfolio was approximately $150 million in 2010. The transaction is subject to certain closing conditions and regulatory approvals and is expected to be accretive in 2011.