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Valeant Pharmaceuticals has agreed to buy the Ortho Dermatologics division of Janssen Pharmaceuticals for $345 million, thestar.com reports.
Toronto - Valeant Pharmaceuticals, based here, has agreed to buy the Ortho Dermatologics division of Janssen Pharmaceuticals for $345 million, thestar.com reports.
Valeant also recently agreed to purchase skincare-product manufacturer Dermik, a unit of Sanofi, for $425 million.
The acquisition of Ortho, based in Los Angeles, gives Valeant ownership of brands such as Retin-A Micro (tretinoin gel) acne treatment and Renova (0.05 percent tretinoin), a wrinkle-reducer. Along with the deal come administrative offices in Montreal and a manufacturing plant in Laval, Quebec, that makes topical dermatological products.
Acquisition of Dermik gives Valeant leading brands such as BenzaClin (benzoyl peroxide 5 percent/clindamycin 1 percent) for the treatment of acne, Carac (0.5 percent 5-fluorouracil) for the treatment of keratoses, and Sculptra (poly-L-lactic acid), a facial injectable for the correction of facial wrinkles and folds.
Valeant officials say they plan to move outsourced U.S. production of the company’s existing brands to Laval in an effort to cut costs.