Valeant expands presence in Brazil

“The Tan Sheet” Mar. 22, 2010, Vol. 18, No. 012
News in Brief / Word Count: 112 / Article # 05180120015_b

Executive Summary

Valeant Pharmaceuticals International builds "the critical mass" it needs in the Brazilian pharmaceutical market with the pending $28 million acquisition of a branded generics and OTC company and a new manufacturing plant, the Aliso Viejo, Calif., firm said March 19. The unnamed generics and OTC company will expand Valeant's dermatology portfolio. In addition, the company sold approximately $19 million in 2009 and has an annual growth rate of nearly 15 percent, Valeant said. In a separate pending transaction, Valeant will acquire a 165,000-square-foot manufacturing plant for about $28 million, which will replace its "current subscale manufacturing facility and eliminate the need for any third-party manufacturers," CEO Michael Pearson said in the release