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Valeant makes $312m OraPharma acquisition

Takes control of gum disease treatment Arestin and Listerine family

Arestin - Valeant OraPhama

Valeant Pharmaceuticals has continued its run of acquisitions with the purchase of oral health company OraPharma.

Canadian pharma firm Valeant will make an initial payment of $312m to OraPharma's owners Water Street Healthcare Partners, with the cost potentially increasing by $114m depending on certain milestones.

The transaction, which is expected to close by the end of June 2012, will see Valeant take control of OraPharma's lead product, Arestin (minocycline hydrochloride) – an antiobiotic to treat gum disease, and the Listerine family of mouthwashes, which OraPharma markets in partnership with Johnson & Johnson (J&J).

According to Valeant, OraPharma's net revenue for the previous 12 months was $95m, with business growing at a single digit rate.

The oral health market is new territory for Valeant, although chair and CEO J Michael Pearson was confident of the acquisition's potential based on experience in related areas.

He said: "We believe that this market segment has similar characteristics to the dermatology, podiatry and ophthalmology markets and should offer us the opportunity to cross-sell some of our current products, most notably our new topical prescription cold sore medication, Xerese.

“We believe the OraPharma business is a new growth platform from which to build additional opportunities in the future."

Valeant has expanded into several therapy areas and geographies in recent months, paying $27m for footcare specialist Pedinol Pharmacal in April, 2012 and acquiring Russian OTC company Natur Produkt for $180, in a deal that gave Valeant control of several cough and cold remedies.

Other moves into Russia for Valeant include the acquisition of a portfolio of generics drugs from Austria-based Gerot Lannach and which are sold in Russia.

18th June 2012

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