Valeant Pharmaceuticals International announced that it has agreed to acquire the rights to several prescription and cosmetic dermatology products from a privately-held, Polish specialty pharmaceutical company. The products have approximately $8 million in annual sales and Valeant will acquire the rights to all products for approximately $18 million. A portion of the purchase price was paid upon signing and the remaining balance will be paid upon closing. The transaction is expected to close in the first quarter of 2010 and will be accretive to Valeant in 2010.

"We continue to focus our development efforts in building leading dermatology franchises in each of our select regions," stated J. Michael Pearson, chairman and chief executive officer. "This latest transaction adds new complementary prescription and cosmetic products to our current portfolio in Central Europe and fits in well with our existing infrastructure. In addition, the dermatology products will increase our visibility with the dermatologists in these markets."

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