Valeant signs agreement to acquire Natur Produkt

Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) announced today that Valeant has signed an agreement to acquire Natur Produkt International, JSC, a specialty pharmaceutical company in Russia.  Natur Produkt has a significant presence in the over-the-counter (OTC) segment in several categories marketed under the umbrella brand, Natur Produkt.  Key brands include AntiGrippin, a leading cough and cold remedy, Anti Angin, Sage and Eucaplyptus MA brand names, leading sore throat remedies.

Valeant will acquire Natur Produkt for approximately $180 million, with an additional $5 million in potential future milestones.  Total revenue in 2011 was approximately $65 million and is expected to deliver double digit growth in 2012.  The transaction is expected to close by mid-year 2012, subject to certain closing adjustments and regulatory approvals, and is expected to be immediately accretive.

"We are pleased to add a leading consumer franchise to our growing operations in Russia," stated J. Michael Pearson, chairman and chief executive officer.  "Not only is the OTC market very attractive in Russia due to the self-pay element, but it is also one of the fastest growth components of the Russian healthcare system.  The addition of this high-growth operation, along with our previously announced acquisition of certain assets from Gerot Lannach, will bring our pro forma revenues in Russia to approximately $175 million by the end of 2012."