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.