Valeant Pharmaceuticals International, Inc. is a pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. The Company produces medicines that meet the special health problems of patients. Valeant's development pipeline strategy comprises both new compounds as well as product life cycle management. Its early and late-stage drug candidates have unique formulations and mechanisms of action including retigabine for the treatment of epilepsy and pain, taribavirin of the treatment of chronic hepatitis C, and several dermatology candidates for the treatment of rosacea, acne, and dermatological fungus. Valeant Pharmaceuticals International, Inc. is headquartered in Mississauga, Canada.
On September 28, 2010, Valeant announced that its merger with Canada's Biovail Corp. has been completed. The merger was announced in June 2010. The merged company will retain the name Valeant Pharmaceuticals International. As per the terms of the deal, Valeant shareholders received 1.7809 Biovail shares for each Valeant share they own, and a special cash dividend of $16.77 per share. The new company is expected to generate $300 million in cost synergies, of which $200 million is expected in 2011 and the rest in 2012. About 25% of the combined company’s employees are expected to lose their jobs.
On May 27, 2010, Valeant completed the acquisition of a New Jersey based specialty pharmaceutical company, Aton Pharma, which is focused on ophthalmology and certain orphan drug indications. Aton, with 2010 expected revenues of $80-$100 million, is likely to boost Valeant’s neurology franchise in the US. As per the terms of the agreement, Valeant paid about $318 million for the acquisition.
Last edited Fri Nov 12, 2010 06:26 AM by PushpanjaliBanerjee (Zacks Investment Research)
Recent and Upcoming Events
Major Risks
Valeant depends largely on product licensing and acquisition activity to contribute to its growth.
The delay in Retigabine NDA submission has raised the risk profile of VRX shares.
Last edited Fri Nov 12, 2010 06:26 AM by PushpanjaliBanerjee (Zacks Investment Research)
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Last Modification: Thursday 03 of June, 2010 09:06:06 CDT by WikiMigrationBot.
