Provides Canadian firm with beachhead in Southeast Asia and South Africa
Valeant Pharmaceuticals has completed its previously announced acquisition of iNova, from Australian private equity firms Archer Capital and Ironbridge, and other minority management shareholders.
Canada-based Valeant agreed to pay iNova shareholders A$625m upfront and up to an additional A$75m in potential milestones based on the success of pipeline activities, product registrations and overall revenue.
iNova has a diversified portfolio of prescription and OTC pharmaceutical products in the Asia Pacific region and South Africa, including weight management brand Duromine, and OTC brands in tge cold and cough area, such as Difflam and Duro Tuss.
Valeant Pharmaceuticals develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.