Valeant to Acquire Polish Dermatology Company
Fri, 05/08/2009 - 4:31am
Valeant Pharmaceuticals International has announced that it has acquiredEMO-FARM Ltd., a privately held company located in Poland for approximately$28 million. The transaction expands the base for Valeant in Poland intomultiple therapeutic categories. EMO-FARM has a strong expertise in topicalproducts and brings with it a portfolio of currently marketed products andadditional products under registration. As part of the transaction, Valeantwill also acquire a state-of-the-art 13,000 square foot manufacturing plantcompleted earlier this year that specializes in gels, creams and ointments.Current annualized revenues are approximately $12 million. "The acquisition of EMO-FARM is consistent with our business planstrategy," stated J. Michael Pearson, chairman and chief executive officer."We now have a platform from which we can launch various topical productsincluding our dermatology pipeline and become a premier dermatology company inthe countries in which we operate The combination of an established portfolioof products, an anti-infective topical compound we plan to launch in 2010, anda cGMP-ready plant that equips us with new manufacturing capabilities,provides us with a solid dermatology opportunity in Poland, and eventually, throughout Central Europe."