Valeant Pharmaceuticals International (VRX) To Acquire Xcel Pharmaceuticals, Inc.; Acquisition Expands Valeant's Neurology Franchise In North America; Adds Retigabine To Pipeline
10/19/2005 5:12:36 PM
COSTA MESA, Calif.--(BUSINESS WIRE)--Feb. 2, 2005--Valeant Pharmaceuticals International (NYSE:VRX) today announced that it has signed a definitive agreement to acquire Xcel Pharmaceuticals, a privately held specialty pharmaceutical company focused on neurology products in the United States. The transaction significantly expands Valeant's business in North America and enhances the company's neurology franchise through the acquisition of key products and a highly specialized neurology sales organization consisting of 94 professionals. The transaction also adds retigabine, a novel Phase 3 candidate in clinical development for the treatment of epilepsy, to Valeant's pipeline. Valeant plans to market retigabine in the United States and key foreign markets once the Phase 3 trials are completed, subject to regulatory approval.
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