Valeant Pharmaceuticals Enters Agreement to Acquire PreCision Dermatology

| Printer friendly version

Valeant Pharmaceuticals International, Inc. announced this week that it has entered an agreement to acquire PreCision Dermatology, Inc.  According to Valeant’s announcement, Valeant will pay $475 million in cash initially, plus $25 million upon achievement of a sales-based milestone.  Valeant expects the transaction to close in the first half of 2014.

According to its website, Valeant is a Canadian-headquartered specialty pharmaceutical company that primarily focuses in dermatology, eye health, neurology and branded generics.  According to its website, PreCision is a dermatology company that operates in two key segments – Onset Dermatologics for prescription therapies, and PrecisionMD® for physician dispensed products.

Last month Valeant announced the completion of its acquisition of Solta Medical for approximately $250 million.  Zacks Investment Research has reported that Valeant also acquired Bausch + Lomb Holdings Inc. for $8.7 billion in August 2013, Obagi Medical Products for $440 million in April 2013, and Medicis Pharmaceutical Corporation for $2.6 billion in December 2012.

Allyson Brown
Allyson Brown is an associate in our Orange County office. She specializes in intellectual property law, with an emphasis on patent prosecution and litigation related to medical devices and biotechnology. During law school, she served as an Articles Editor for the Vanderbilt Journal of Entertainment and Technology Law.
Click here to read full bio
View all posts published by Allyson Brown »

One Response

  1. Rick
    February 27, 2014 at 12:00 pm |

    I wonder how Valeant plans to handle the contingent payments to the Liposonix founders. That annual payout based on sales was supposed to last for something like seven years after sales release when Solta bought Liposonix from Medicis.

    Reply

Leave a Reply

By using this blog, you agree and understand that no information is being provided in the context of any attorney-client relationship. You further agree and understand that nothing herein is intended to be legal advice. This blog is solely informational in nature, and is not intended as, and should not be used as, a substitute for competent legal advice from a retained and licensed attorney in your state. Knobbe Martens LLP makes no representations or warranties as to the accuracy, completeness, timeliness or availability of the information in this blog. Knobbe Martens LLP will not be liable for any injury or damages relating to your use of, or access to, any such information. Knobbe Martens LLP undertakes no obligation to correct or update information on this blog, which may be incorrect or become incorrect or out of date over time. Knobbe Martens LLP reserves the right to alter or delete content or information on the blog at any time. This blog contains links and references to other websites and publications that you may find of interest. Knobbe Martens LLP does not control, promote, endorse or otherwise have any affiliation with any other websites or publications unless those websites or publications expressly state such an affiliation. Knobbe Martens LLP further has no responsibility for, and makes no representations regarding, the content, accuracy or any other aspect of the information in such websites or publications.