Valeant subsidiary to acquire leading skin care brands in Australia

Valeant Pharmaceuticals International, Inc. announced today that its subsidiary, Biovail Laboratories International SRL (BLS), has agreed to acquire several privately–owned pharmacy skin care brands in Australia.  The leading brands, including well-established local brands such as Hamilton's Suncare and Hamilton's Skin Therapy, are ranked #2 in suncare in the Australian pharmacy market. Total annualized sales of the acquired products are approximately AU$10 million. The acquisition is expected to be accretive in 2010.

"These leading skin care brands nicely augment Valeant's current suncare product portfolio and expands our presence in the pharmacy over-the-counter (OTC) market," state J. Michael Pearson, chief executive officer.  "The brands we acquired through our previous transactions have continued to perform well and the addition of a key brand such as Hamilton Sunscreen will enhance our portfolio and offer synergies to our growing pharmacy OTC platform."  

SOURCE Valeant Pharmaceuticals International, Inc.