Valeant Pharmaceuticals Agrees to Acquire iNova Pharmaceuticals
Valeant Pharmaceuticals International, Inc. recently announced it has signed an agreement to acquire iNova, a private pharmaceutical group that sells and distributes a range of prescription and OTC products in
Valeant will pay iNova shareholders A$625 million upfront and up to an additional A$75 million in potential milestones based on the success of pipeline activities, product registrations, and overall revenue. iNova’s total 2011 revenues are expected to be approximately A$200 million and has an operating margin of approximately 40%. Revenues have grown at a rate of approximately 10% per annum over the past 4 years. The transaction is subject to certain closing conditions and post-closing adjustments and is expected to be immediately accretive.
“This transaction not only transforms our operations in the Australian market, but provides us with a beachhead in both Southeast Asia and
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures, and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology, and branded generics.
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