Content about Valeant Pharmaceuticals

May 14, 2013

Actavis is continuing to pursue a plan to buy Irish drug maker Warner Chilcott, as the U.S.-based company announced Tuesday its total number of shares and share-purchase options in order to comply with Ireland's merger-and-acquisition rules.

PARSIPPANY, N.J. — Actavis is continuing to pursue a plan to buy Irish drug maker Warner Chilcott, as the U.S.-based company announced Tuesday its total number of shares and share-purchase options in order to comply with Ireland's merger-and-acquisition rules.

Actavis listed about 133.3 million ordinary shares, 1.5 billion restricted shares and 1.26 options to purchase ordinary shares.

May 10, 2013

Actavis is looking into the possibility of buying Warner Chilcott, the generic drug maker said.

PARSIPPANY, N.J. — Actavis is looking into the possibility of buying Warner Chilcott, the generic drug maker said Friday.

Actavis, the world's third-largest generic drug maker, said it had entered into early-stage discussions with Warner Chilcott about a potential combination of the two, but that no agreement had been reached, and that it wouldn't issue further comment about the matter.

May 1, 2013

Drug maker Actavis has acquired rights to a treatment for an experimental bacterial vaginosis from Valeant Pharmaceuticals International for about $55 million, the drug makers said.

PARSIPPANY, N.J. — Drug maker Actavis has acquired rights to a treatment for an experimental bacterial vaginosis from Valeant Pharmaceuticals International for about $55 million, the drug makers said Wednesday.

Actavis Specialty Brands' acquisition of Valeant's metronidazole vaginal gel is in the 1.3% strength. The deal includes an upfront payment, milestone payments and royalties for the first three years after the drug is commercialized. Actavis hopes to market the drug as early as the middle of next year.

April 29, 2013

A proposal by Canadian drug maker Valeant Pharmaceuticals International to purchase generic drug maker Actavis has fallen through, according to published reports.

NEW YORK — A proposal by Canadian drug maker Valeant Pharmaceuticals International to purchase generic drug maker Actavis has fallen through, according to published reports.

According to reports, Valeant was planning to pay more than $13 billion in stock to acquire Actavis, but the deal was put on hold because the companies could not agree to terms of the deal. The deal would create a company worth about $35 billion.

April 5, 2013

Actavis will market and distribute an authorized generic version of a genital herpes ointment made by Valeant Pharmaceuticals International, the companies said Friday.

PARSIPPANY, N.J. — Actavis will market and distribute an authorized generic version of a genital herpes ointment made by Valeant Pharmaceuticals International, the companies said Friday.

The agreement centers around Zovirax, known generically as acyclovir, in the 5% strength. The Food and Drug Administration approved the generic version, made by Mylan, on Wednesday. Financial terms of the deal were not disclosed.

April 4, 2013

The Food and Drug Administration approval this week of a generic genital herpes ointment made by Mylan could make a slight dent in the stock price of the company that makes the branded version.

MONTREAL — The Food and Drug Administration approval this week of a generic genital herpes ointment made by Mylan could make a slight dent in the stock price of the company that makes the branded version.

Canada-based Valeant Pharmaceuticals International said that while it expected Mylan to receive approval for a generic version of Zovirax (acyclovir) ointment, it did not include the approval in its original budget expectations and thus expected its earnings per share in fiscal year 2013 to be reduced by 30 to 40 cents.

February 21, 2013

Valeant Pharmaceuticals has bought rights to a drug used to treat skin cancer from Eisai, the companies said Thursday.

WOODCLIFF LAKE, N.J. — Valeant Pharmaceuticals has bought rights to a drug used to treat skin cancer from Eisai, the companies said Thursday.

Valeant has bought the rights to Targretin (bexarotene) capsules and gel from Eisai for $65 million upfront, plus additional payments based on certain milestones. Under the deal, Eisai has transferred its regulatory approval application to Valeant, which will assume responsibilities for all regulatory obligations associated with the product in the United States. Eisai will retain rights to the drug outside the United States.

February 6, 2013

Canadian drug maker Valeant Pharmaceuticals North America announced plans to launch a new sun care line in the spring.

NEW YORK — Canadian drug maker Valeant Pharmaceuticals North America announced Wednesday plans to launch a new sun care line nationwide in the spring.

January 11, 2013

Skin care brand CeraVe, developed by Valeant Pharmaceuticals North America, is expanding its portfolio with a line of sun care products slated to hit stores beginning this month.

NEW YORK — Skin care brand CeraVe, developed by Valeant Pharmaceuticals North America, is expanding its portfolio with a line of sun care products slated to hit stores beginning this month.

The new CeraVe Sun Care line, developed with dermatologists, includes eight products for the face and body with various applications offering both broad spectrum SPF 30 and SPF 50 protection, and will be sold in the sun protection aisle in drug stores and mass market.

November 16, 2012

The Federal Trade Commission has approved a deal by Valeant Pharmaceuticals International to buy a Scottsdale, Ariz.-based drug maker.

MONTREAL — The Federal Trade Commission has approved a deal by Valeant Pharmaceuticals International to buy a Scottsdale, Ariz.-based drug maker.

Valeant said the FRC had finished reviewing its planned acquisition of Medicis Pharmaceutical and allowed the waiting period required under merger and acquisition laws to terminate early.

Valeant said the deal is still subject to conditions like the approval of Medicis' stockholders, who will have a special meeting on Dec. 7. Medicis makes drugs for asthma, fungal infections and skin conditions like acne and eczema.

November 8, 2012

Valeant Consumer Products recently announced that its line of Ocean Saline Nasal Sprays has been the most recommended by pharmacists for 15 years running.

BRIDGEWATER, N.J. — Valeant Consumer Products recently announced that its line of Ocean Saline Nasal Sprays has been the most recommended by pharmacists for 15 years running. 

Ocean offers nonmedicated relief from dry and irritated nasal passages due to allergies, colds, flu, sinusitis and rhinitis. The nasal spray is gentle enough for infants and has three delivery options — standing the bottle upright delivers a spray; horizontally, a stream; and upside-down, a drop. 

September 25, 2012

Valeant Pharmaceuticals International has acquired rights to a drug used to treat a symptom of age-related macular degeneration, the drug maker said.

MONTREAL — Valeant Pharmaceuticals International has acquired rights to a drug used to treat a symptom of age-related macular degeneration, the drug maker said.

Valeant announced that it acquired the injected drug Visudyne (verteporfin) from QLT, a company based in Vancouver, Canada.

Valeant said it paid $62.5 million upfront for all U.S. rights and available inventories for the drug, which had U.S. sales of about $21 million in 2011, and another $50 million upfront for rights to non-U.S. sales, which were about $14 million.

September 18, 2012

Valeant Pharmaceuticals CFO Howard Schiller has been appointed to the drug maker's board of directors.

MONTREAL — Valeant Pharmaceuticals CFO Howard Schiller has been appointed to the drug maker's board of directors.

Schiller joined Valeant as EVP and CFO in December 2011, following a 24-year career at Goldman Sachs. Schiller also serves on the New York board of Teach for America and on the board of the Cancer Research Institute. In addition, he also is on the business advisory council of the University of Chicago Law School.

September 4, 2012

Canadian drug maker Valeant Pharmaceuticals International is buying Medicis Pharmaceutical for $2.6 billion, Valeant said Monday.

MONTREAL — Canadian drug maker Valeant Pharmaceuticals International is buying Medicis Pharmaceutical for $2.6 billion, Valeant said Monday.

The $44-per-share deal, which the companies said represents a 39% premium over the closing price of Medicis' shares on Friday, is expected to close in the first half of 2013.

February 13, 2012

Valeant Pharmaceuticals is set to acquire a privately owned ophthalmic biotechnology company, the drug maker said Monday.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals is set to acquire a privately owned ophthalmic biotechnology company, the drug maker said Monday.

Valeant said it will acquire Eyetech upfront payment and potential future milestones. The transaction, which is subject to customary closing conditions, is expected to close this week. Additional details were not disclosed.

February 6, 2012

Mylan has completed its acquisition of two skin drugs from Valeant Pharmaceuticals, the generic drug maker said Monday.

PITTSBURGH — Mylan has completed its acquisition of two skin drugs from Valeant Pharmaceuticals, the generic drug maker said Monday.

Mylan announced that it had acquired the regulatory approval applications for generic clindamycin phosphate and benzoyl peroxide gel, a generic version of Valeant's BenzaClin, and a license to manufacture and market fluorouracil cream in the 5% strength, a version of Valeant's Efudex.

January 30, 2012

Valeant Pharmaceuticals said it would not move forward in its pursuit of Ista Pharmaceuticals due to lack of progress.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals said it would not move forward in its pursuit of Ista Pharmaceuticals due to lack of progress.

The drug maker said it withdrew the acquisition offer of Ista, valued at $7.50 per share in cash. Valeant previously said that the offer would remain open until Jan. 31.

December 22, 2011

Canadian drug maker Valeant Pharmaceuticals officially owns an Australian drug maker.

MISSISSAUGA, Ontario — Canadian drug maker Valeant Pharmaceuticals officially owns an Australian drug maker.

The company announced that it completed its acquisition of iNova, which sells and distributes prescription and over-the-counter drugs in Australia, New Zealand, Southeast Asia and South Africa, on Dec. 21 from iNova's current shareholders, Archer Capital, Ironbridge and others.

The deal, which was announced back in November, was valued at up to A$700 million.

December 19, 2011

Drug maker Valeant Pharmaceuticals has launched a hostile takeover bid for ISTA Pharmaceuticals, the company said.

MISSISSAUGA, Ontario — Drug maker Valeant Pharmaceuticals has launched a hostile takeover bid for ISTA Pharmaceuticals, the company said.

The company announced Friday the offer of $6.50 per share for ISTA, an Irvine, Calif.-based maker of eye drugs. ISTA stock had a closing price of $3.89 per share on Thursday.

November 11, 2011

A former Goldman Sachs executive will join Valeant Pharmaceuticals as EVP and CFO.

MISSISSAUGA, Ontario — A former Goldman Sachs executive will join Valeant Pharmaceuticals as EVP and CFO.

Howard Schiller will take over the position from Philip Loberg, who has been serving as Valeant's interim CFO on Dec. 1. Prior to his new role, Schiller was COO for Goldman Sachs' investment banking division until his retirement in January.

August 18, 2011

Valeant Pharmaceuticals on Thursday announced the resignation of Michael Van Every from its board of directors.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals on Thursday announced the resignation of Michael Van Every from its board of directors.

The company said Van Every, who has served on the board since 2004, resigned due to health reasons.

July 15, 2011

Valeant Pharmaceuticals has purchased a dermatology subsidiary from Johnson & Johnson, the Canadian drug maker said Friday.

MISSISSAUGA, Ontario — Valeant Pharmaceuticals has purchased a dermatology subsidiary from Johnson & Johnson, the Canadian drug maker said Friday.

The $345 million acquisition of the Ortho Dermatologics division of J&J subsidiary Janssen Pharmaceuticals follows Valeant’s $425 million purchase of Dermik, the skin care business of French drug maker Sanofi. Ortho Dermatologics’ portfolio includes the drugs Retin-A Micro, Ertaczo and Renova, which collectively had sales of about $150 million in 2010.

May 18, 2011

Valeant Pharmaceuticals has announced the launch of the "Change Your Skin, Change Your Life" campaign, in which its Kinerase brand will make three charitable donations in 2011.

BRIDGEWATER, N.J. — Valeant Pharmaceuticals has announced the launch of the "Change Your Skin, Change Your Life" campaign, in which its Kinerase brand will make three charitable donations in 2011.

Each donation, which will be made in June, September and December, will be decided upon by consumer suggestions on the Kinerase Facebook page. Participants will submit their favorite charities and then vote on the ones they like. The charity with the most votes will be the beneficiary of Kinerase's donation.

March 30, 2011

Canadian drug maker Valeant Pharmaceuticals has proposed to buy Cephalon for $5.7 billion, Valeant said Tuesday.

MISSISSAUGA, Ontario — Canadian drug maker Valeant Pharmaceuticals has proposed to buy Cephalon for $5.7 billion, Valeant said Tuesday.

The buyout offer, equal to $73 per share, includes a 29% premium over Cephalon’s stock price. Valeant noted it had made previous offers, but was “disappointed by Cephalon’s unwillingness to engage in discussions in a timely manner.”

March 22, 2011

J. Michael Pearson has been appointed to chairman of the board at Valeant Pharmaceuticals, the drug maker said Tuesday.

MISSISSAUGA, Ontario — J. Michael Pearson has been appointed to chairman of the board at Valeant Pharmaceuticals, the drug maker said Tuesday.

Pearson, who is Valeant's CEO, will extend his contract with Valeant through February 2017, the company said.

Pearson replaces current chairman Robert Ingram, who remains on the board as an independent board director and lead director.