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Slide #33. Valeant Pharmaceuticals — Precision Dermatology
Valeant Pharmaceuticals (VRX)
Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today announced that it has entered into a definitive agreement under which Valeant will acquire PreCision Dermatology, Inc. for $475 million in cash, plus an additional $25 million payable upon the achievement of a sales-based milestone. PreCision develops and markets high quality dermatology products with leading products such as Locoid, Hylatopic, Clindagel, and BenzEFoam. PreCision expects to have approximately $130 million in revenue in 2014. The transaction is expected to close in the first half of 2014 and Valeant expects the transaction, once completed, to be immediately accretive to Valeant's cash earnings per share.
Valeant Pharmaceuticals International is a pharmaceutical and medical device company that develops, manufactures, and markets a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). Co. has two operating and reportable segments: Developed Markets, which focuses in dermatology, neurology, gastrointestinal disorders, and eye health therapeutic; and Emerging Markets, which focuses primarily on branded generics, OTC products, and medical devices.
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Hold (2.46 out of 4)
(ranked higher than approx. 92% of all stocks covered)
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