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Valeant expands presence in Brazil

This article was originally published in The Tan Sheet

Executive Summary

Valeant Pharmaceuticals International builds "the critical mass" it needs in the Brazilian pharmaceutical market with the pending $28 million acquisition of a branded generics and OTC company and a new manufacturing plant, the Aliso Viejo, Calif., firm said March 19. The unnamed generics and OTC company will expand Valeant's dermatology portfolio. In addition, the company sold approximately $19 million in 2009 and has an annual growth rate of nearly 15 percent, Valeant said. In a separate pending transaction, Valeant will acquire a 165,000-square-foot manufacturing plant for about $28 million, which will replace its "current subscale manufacturing facility and eliminate the need for any third-party manufacturers," CEO Michael Pearson said in the release
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