DOW JONES NEWSWIRES Valeant Pharmaceuticals International Inc. (VRX) agreed to acquire the ortho dermatologics divisions of Janssen Pharmaceuticals Inc. for $345 million, as the company looks to expand its presence in the dermatology arena. Janssen, itself a part of Johnson & Johnson (JNJ), has a product portfolio that includes prescriptions brands Retin-A Micro, Ertaczo and Renova. In 2010, it recorded revenue of about $150 million. "We believe that dermatology remains an attractive therapeutic area for Valeant and we are pleased to able to add another strong franchise to our growing operations," said Valeant Chief Executive J. Michael Pearson. The company expects the deal to add to earnings in 2011. Valeant has been on an acquisition streak of late; earlier this month, it announced a deal to buy Dermik, a Sanofi SA (SNY) subsidiary, for about $425 million including inventories, product rights and a Quebec manufacturing facility. Shares of Valeant were inactive in premarket trade and closed Thursday at $52.61. The stock is up 86% so far this year. -By Lauren Pollock, Dow Jones Newswires; 212-416-2356; lauren.pollock@dowjones.com
