Valeant Cedes Drugs To Win OK For $770M Skin Care Buys

Law360, New York (December 12, 2011, 4:06 PM EST) -- Valeant Pharmaceuticals International Inc. said Monday that it will give up rights to three of its skin care drugs in exchange for federal approval of its plans to buy two skin care drugmakers for $770 million.

According to consent decrees approved by the Federal Trade Commission, Canada-based Valeant agreed to sell all rights to acne treatment BenzaClin — part of its proposed $425 million purchase of Sanofi SA unit Dermik Laboratories Inc. that drew FTC scrutiny — and license manufacturing rights of its generic keratosis treatment...
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