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Valeant Pharmaceuticals International (VRX) Acquires DermTech International for Approximately AU$19 Million; Purchase Expands Valeant's Dermatology Business in Australia


11/14/2008 6:56:45 AM

ALISO VIEJO, Calif.--(BUSINESS WIRE)--Valeant Pharmaceuticals International (NYSE:VRX - News) today announced that it has acquired DermaTech Pty Ltd, an Australian specialty pharmaceutical company focused on dermatology products marketed throughout Australia and overseas, for approximately AU$19 million, with customary adjustments for net asset value. This transaction significantly expands Valeant’s Australian specialty pharmaceutical business through the acquisition of key products in both the retail and prescription brands, which complement Valeant’s current product portfolio. DermaTech’s current annualized net sales are approximately AU$10.5 million.

Read at BioSpace.com

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