MISSISSAUGA, Ontario, April 7, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announced today that its subsidiary, Valeant International (Barbados) SRL (VIB), received a commitment in principle to license Elidel (pimecrolimus 1% cream) from Meda in the U.S., Canada and Mexico. Terms of the license will be disclosed after the parties have executed a definitive agreement. Earlier today Meda announced that it reached a definitive agreement to acquire global rights to Elidel from Novartis. Elidel is a patent protected specialty focused product for the treatment of atopic dermatitis (AD). Meda's acquisition of Elidel is subject to certain customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Act.
"We are pleased to add this strong worldwide brand to our growing dermatology product portfolio," state J. Michael Pearson, chairman and chief executive officer. "Elidel not only strengthens our presence with dermatologists in our key markets, but this product should be a complementary addition to our currently marketed products."
About Valeant Pharmaceuticals International, Inc.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) 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. More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.
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|SOURCE Valeant Pharmaceuticals International, Inc.|
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