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03-22-2010, 04:13 PM #1
California drug company buys Brazilian firm, $28 Million
O.C. drug company buys Brazilian firm
March 22nd, 2010, 11:30 am
Jan Norman, small-business columnist
Valeant Pharmaceuticals in Aliso Viejo has agreed to buy an unnamed Brazilian generic and over-the-counter drug company for $28 million.
The Brazilian company had sales of $19 million in 2009 and has been growing 15% a year, Valeant said. It makes mostly skin care products and has a new manufacturing plant, which will eliminate the need to use outside contract manufacturers.
Valeant hopes to increase its share of the Brazil market with this acquisition.
The purchase is the latest in Valeant’s drive to build its dermatology line of products especially with purchases in other countries. Among its other purchases are Laboratoire Dr. Renaud, a 40-year-old skin care specialist in Laval, Quebec, Canada; DermaTech Pty Ltd, an Australian firm whose products treat skin diseases; and Private Formula International, an Australian firm with an anti-aging skin care line. It also bought Dow Pharmaceutical Sciences Inc., which makes acne drugs.
“We are excited to advance our dermatology presence in the Brazilian market, which is one of the leading dermatology markets worldwide,â€NO AMNESTY
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