Valeant Pharmaceuticals has followed up its recent spate of acquisitions with an approach for US pharmaceutical company Medicis Pharmaceutical.

Valeant could be about to follow up its plans to become the world’s largest skincare company in five years time with the acquisition of the company, which specialises in dermatological medications and beauty products, according to the Wall Street Journal.

A flurry of recent acquisitions for the Canada-based Valeant include Johnson & Johnson’s Ortho Dermatologics and Sanofi’s Dermik skincare company after losing out on biopharmaceutical firm Cephalon to Teva.

Medicis announced indifferent second-quarter results, citing a 21% decrease in net income despite a 10% rise in revenues.