Sunday, April 20, 2014
Inquirer Daily News

Valeant buys Medicis for $2.6 billion

Valeant Pharmaceuticals International, Inc., which tried very hard to buy Malvern-based Cephalon before Teva Pharmaceuticals won the bidding, Tuesday announced it would pay $2.6 billion to acquire Medicis Pharmaceutical Corp.

Valeant buys Medicis for $2.6 billion

Valeant Pharmaceuticals International, Inc., which tried very hard to buy Frazer-based Cephalon before Teva Pharmaceuticals won the bidding, Tuesday announced it would pay $2.6 billion to acquire Medicis Pharmaceutical Corp.

Valeant is based in suburban Toronto and Medicis is headquartered in Scottsdale, Ariz.

The acquisition helps give Valeant a strong position in dermatology.

"The acquisition of Medicis represents a significant next step in our journey to become the leader in dermatology by strengthening Valeant's presence in acne, actinic keratosis, aesthetic injectables and anti-virals, among others," Valeant's chief executive officer J. Michael Pearson said in a statement. "Medicis' highly complementary portfolio of leading branded products and promising pipeline is a solid strategic fit, and we look forward to leveraging Medicis' well known and respected name in dermatology to drive long-term growth."

David Sell
About this blog
David Sell blogs about the region's pharmaceutical industry. Follow him on Facebook.

For Inquirer.com. Portions of this blog may also be found in the Inquirer's Sunday Health Section.

Reach David at dsell@phillynews.com.

David Sell
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