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July 17, 2011

Valeant Acquisition Signals Skincare Intent

Valeant Pharmaceuticals has made further moves into the skincare sector with the $345m purchase of the Johnson & Johnson unit Janssen Pharmaceuticals. The move follows a flurry of mid-size acquisitions in the dermatology market, including the $425m purchase of Sanofi's Dermik

By cms admin

Valeant Pharmaceuticals has made further moves into the skincare sector with the $345m purchase of the Johnson & Johnson unit Janssen Pharmaceuticals.

The move follows a flurry of mid-size acquisitions in the dermatology market, including the $425m purchase of Sanofi’s Dermik unit, with Valeant chief executive Michael Pearson adding that the company aims to become the world’’ largest player in the skincare market within five years.

Upon the close of recent acquisitions, Valeant’s revenue relating to its dermatology businesses will top approximately $1bn as the company looks to capitalise on Big Pharma companies looking to selling non-core assets.

Big pharma companies like Johnson & Johnson and Sanofi have been offloading auxiliary businesses to focus on novel drugs, whereas Pfizer has been shedding non-core businesses to offset the effects of the pending patent expiry of Liptor.

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