Valeant Pharmaceuticals International, Inc’s subsidiary, Biovail Laboratories International SRL (BLS), has agreed to acquire several privately-owned pharmacy skin care brands in Australia. The leading brands, including well-established local brands such as Hamilton's Suncare and Hamilton's Skin Therapy, are ranked #2 in suncare in the Australian pharmacy market. Total annualized sales of the acquired products are approximately AU$ 10 million. The acquisition is expected to be accretive in 2010.

"These leading skin care brands nicely augment Valeant's current suncare product portfolio and expands our presence in the pharmacy over-the-counter (OTC) market," state J Michael Pearson, chief executive officer. "The brands we acquired through our previous transactions have continued to perform well and the addition of a key brand such as Hamilton Sunscreen will enhance our portfolio and offer synergies to our growing pharmacy OTC platform."

Valeant Pharmaceuticals is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.