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Valeant to buy Russian OTC pharma firm Natur Produkt

Further expands Canadian company’s presence in emerging markets

Valeant Pharmaceuticals has continued its run of acquisitions with the $180m purchase of Saint Petersburg-based specialty pharma firm Natur Produkt.

Valeant will take control of over-the-counter (OTC) brands such as AntiGrippin, a cough and cold remedy, as well as sore throat treatments Anti Angin, Sage and Eucaplyptus MA.

Natur Produkt, which markets its products mainly in Russia, had total revenues of around $65m furing 2011, with double digit growth expected in 2012, and Valeant said it expected the deal to close by the middle of 2012.

"We are pleased to add a leading consumer franchise to our growing operations in Russia," said J Michael Pearson, chair and CEO of Valeant.

"Not only is the OTC market very attractive in Russia due to the self-pay element, but it is also one of the fastest growth components of the Russian healthcare system.

“The addition of this high-growth operation, along with our previously announced acquisition of certain assets from Gerot Lannach, will bring our pro forma revenues in Russia to approximately $175m by the end of 2012."

The purchase of Natur Produkt is the second major move into Russia for Valeant this month following its purchase from Austria-based Gerot Lannach of a portfolio of generics products that are sold mainly in Russia and the Commonwealth of Independent States (CIS).

The latest deal also confirms the Canadian company's commitment to at least two of the emerging BRIC markets, following the company's recent moves in Brazil, where it took a minority stake in Pele Nova and purchased over-the-counter (OTC) medicine and dietary supplement manufacturer Probiotica.

• More details about the pharmaceutical market in Russia, including the impact of the recently implemented healthcare bill, can be found in PMGroup's webinar Russia: The inside story.

27th March 2012

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