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Valeant To Buy Branded Generics Assets From Gerot Lannach

DOW JONES NEWSWIRES Valeant Pharmaceuticals International Inc. (VRX) said Tuesday it's acquiring from Austria's Gerot Lannach certain branded generics assets that generate the bulk of their sales in Russia. Mississauga, Ont.-based Valeant said the assets generated net revenue of about $55 million last year. Gerot Lannach's largest product is acetylsalicylic acid, a low-dose aspirin. Valeant said it will pay less than three times sales, and may make up to an additional $20 million in milestone payments, based upon future performance objectives. As part of the transaction, Valeant and Gerot Lannach will enter into a strategic partnership that includes an exclusive 10-year supply agreement for the acquired products and the opportunity for Valeant to introduce additional Gerot Lannach products into Valeant territories such as its emerging markets in Southeast Asia and Latin America. Valeant expects the transaction to boost results starting immediately. -By Carolyn King, Dow Jones Newswires; 416-306-2100; carolyn.m.king@dowjones.com

Stock News for Valeant Pharma (VRX)
DateTimeHeadline
04/30/201603:03:00Valeant Default Fears 'Cured' -- WSJ
04/30/201603:03:00Sequoia Reopens To New Clients -- WSJ
04/29/201618:01:00Valeant Holder Sequoia Fund Reopens to New Investors -- 2nd Update
04/29/201617:31:00Valeant Holder Sequoia Fund Reopens to New Investors -- Update
04/29/201616:51:19Additional Proxy Soliciting Materials (definitive) (defa14a)
04/29/201613:30:00Valeant Files Overdue Annual Report, Makes Sweeping Board Changes--Update
04/29/201612:43:00Valeant Files Overdue Annual Report, Makes Sweeping Board Changes--Update
04/29/201612:20:00Valeant Holder Sequoia Fund Reopens to New Investors
04/29/201611:06:36Proxy Statement (definitive) (def 14a)
04/29/201610:15:00Valeant Files Overdue Annual Report, Makes Sweeping Board Changes--Update
04/29/201609:31:00Valeant Announces Nominees For Election To Board Of Directors
04/29/201609:31:00Valeant Announces Nominees For Election To Board Of Directors
04/29/201609:13:00Valeant Files Overdue Annual Report, Resolving Risk of Default--Update
04/29/201608:57:00Valeant Files Overdue Annual Report, Resolving Risk of Default--Update
04/29/201608:42:00Valeant Files Overdue Annual Report--Update
04/29/201608:30:00Valeant Files Overdue Annual Report
04/29/201607:45:25Current Report Filing (8-k)
04/29/201607:28:00Valeant Pharmaceuticals Files Annual Report On Form 10-K For...
04/29/201607:26:19Annual Report (10-k)
04/27/201621:50:00Valeant to Make Sweeping Changes to Board

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