Valeant to acquire Polish dermatology firm
Valeant Pharmaceuticals International, a US-based multi-national producer of pharmaceutical products in the areas of neurology and dermatology, has acquired Emo-Farm, a privately owned Polish company for approximately US$28m. The deal expands Valeant's base in Poland into multiple therapeutic categories.
Valeant Pharmaceuticals International, a US-based multi-national producer of pharmaceutical products in the areas of neurology and dermatology, has acquired Emo-Farm, a privately owned Polish company for approximately US$28m. The deal expands Valeant's base in Poland into multiple therapeutic categories.
Emo-Farm's main area of expertise is in topical products. As part of the transaction, Valeant will acquire a state-of-the-art 13,000sq ft manufacturing plant completed earlier this year that specialises in gels, creams and ointments. Current annualised revenues are approximately US$12m.
"We now have a platform from which we can launch various topical products including our dermatology pipeline and become a premier dermatology company in the countries in which we operate," said Michael Pearson, chairman and chief executive of Valeant. "The combination of an established portfolio of products, an anti-infective topical compound we plan to launch in 2010, and a cGMP-ready plant that equips us with new manufacturing capabilities, provides us with a solid dermatology opportunity in Poland, and eventually, throughout Central Europe."