Valeant Pharmaceuticals and its subsidiaries announced today that it has signed an agreement to acquire Ortho Dermatologics division of Janssen Pharmaceuticals. Valued at $345 million, Valeant will pay Janssen for its assets.
Janssen’s Ortho Dermatologics division has a widely known portfolio including prescription brands RETIN-A MICRO ®, ERTACZO ®, and RENOVA ®. In 2010, the portfolio was valued at $150 million. The agreement is still subject to closing conditions and regulatory approvals.
"With the combination of this transaction and other recently announced transactions, Valeant is well on its way to being one of the leading companies in dermatology," stated J. Michael Pearson, chairman and chief executive officer. "We believe that dermatology remains an attractive therapeutic area for Valeant and we are pleased to able to add another strong franchise to our growing operations."
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Part of Ortho’s portfolio RETIN-A MICRO is a prescription-strength acne treatment mainly used by teens. Advertised as a treatment that clears skin in approximately two weeks and with around seven showing full results.
Clearly in a move to progress further dermatology solutions, this announcement from Valeant comes just after a similar announcement of an acquisition of Dermik, another dermatology specialization company.
Valeant Pharmaceuticals International is a Mississauga, Ontario based company that advertises itself as a “multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas neurology, dermatology, and branded generics.”