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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
10/20/201409:49:31U.S. Hot Stocks: Hot Stocks to Watch
09/29/201409:20:12Allergan Reiterates Opposition to Valeant Bid
09/12/201415:14:59Correction to Allergan Story
08/14/201418:03:34Paulson & Co. Opens Positions in Covidien, DirecTV and Allergan
07/21/201415:44:16Allergan to Lay Off 13% of Workforce, Cut Drug Research -- 3rd...
07/21/201409:59:43U.S. Hot Stock Futures: Hot Stocks to Watch
07/21/201407:57:43Valeant Pharmaceuticals Complains to SEC Over Allergan Claims...
07/07/201414:00:26Pershing Proposes Six Directors for Allergan Board
07/02/201415:32:44Pershing Square Hedge Fund Ends First Half Up 25%
07/01/201414:39:11Pershing Square Hires Credit Suisse as Banker in Allergan Campaign...
06/17/201409:09:22Valeant to Launch Exchange Offer This Week to Allergan Shareholders...
06/16/201421:23:19Allergan's Bitter Pill for Morgan Stanley
06/13/201408:08:46Pershing Files Suit Against Allergan -- 2nd Update
06/13/201407:19:22Pershing Capital Files Suit Against Allergan -- Update
06/10/201416:41:13Allergan Rejects Valeant's Latest Takeover Bid -- 4th Update
06/10/201416:36:52Allergan Rejects Valeant's Latest Takeover Bid -- 3rd Update
06/10/201416:29:53Allergan Rejects Valeant's Latest Takeover Bid -- Update
06/02/201416:54:18MARKET SNAPSHOT: U.S. Stocks Inch Up; S&P 500, Dow At Record
06/02/201413:25:07MARKET SNAPSHOT: U.S. Stocks Regain Footing After ISM Corrects...
06/02/201411:41:10Pershing Seeks Removal of 6 Allergan Directors -- 4th Update

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