Valeant Pharmaceuticals to acquire Natur Produkt in Russia
Natur Produkt will have the potential to receive an additional $5 million in future milestones. The acquisition will give Valeant the Russian company’s over-the-counter brands AntiGrippin, a cough and cold remedy, Anti Angin, Sage and Eucaplyptus, sore throat remedies, and several more.
"Not only is the OTC market very attractive in Russia due to the self-pay element, but it is also one of the fastest growth components of the Russian healthcare system,” stated J. Michael Pearson, chairman and CEO, Valeant. “The addition of this high-growth operation… will bring our pro forma revenues in Russia to approximately $175 million by the end of 2012."
The transaction is expected to close by mid-year 2012, subject to certain closing adjustments and regulatory approvals, and is expected to be immediately accretive.