Skadden Reps Valeant In $345M Jannsen Unit Buy

Law360, Wilmington (July 15, 2011, 4:38 PM EDT) -- Canada-based Valeant Pharmaceuticals International Inc. said Friday it had agreed to acquire a Jannsen Pharmaceuticals Inc. dermatology unit for $345 million, capping off a $1 billion skin care drug buying spree in the past three weeks.

In the deal, two Valeant subsidiaries — Valeant Pharmaceuticals North America and Valeant International (Barbados) SRL — will pick up Janssen’s Ortho Dermatologics division and its prescription acne medication brands Retin-A Micro and Renova, as well as the foot fungus drug Ertaczo, according to a statement from Valeant.

“With the...
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