Navigation Links
Valeant to Acquire Tecnofarma, A Mexican Generic Company
Date:7/29/2009

ALISO VIEJO, Calif., July 29 /PRNewswire-FirstCall/ -- Valeant Pharmaceuticals International (NYSE: VRX) announced that it has signed a definitive Sale and Purchase Agreement to acquire Tecnofarma S.A. de C.V., a privately held company located in Mexico for approximately one times sales. Tecnofarma is a producer of generic pharmaceuticals which has approximately $33 million in annual sales primarily to the government and private label markets - two segments that Valeant Mexico does not currently serve in any material way. In addition, Tecnofarma has a number of manufacturing sites including a new 160,000 sq. ft. manufacturing plant that will allow Valeant Latin America to reduce its dependence upon third party manufacturers. Finally, Tecnofarma has eighty registered products that can be introduced into the branded generic market in Mexico.

"The acquisition of Tecnofarma is consistent with our business plan strategy," stated J. Michael Pearson, chairman and chief executive officer. "The government and private label markets in Mexico are large and growing components of the overall pharmaceutical industry in the region and are complementary to Valeant Mexico's current market focus on the commercial branded generic market. Adding two well-established businesses to our current branded generic portfolio mix, a new pipeline of products for our branded generic business, as well as a manufacturing infrastructure capable of expanding to meet future demand, we believe we are well positioned to reach our growth objectives in Latin America."

About Valeant

Valeant Pharmaceuticals International (NYSE: VRX) 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. More information about Valeant can be found at www.valeant.com.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements, including, but not limited to, statements regarding the future growth in Valeant's operations in Mexico and/or Latin America and the impact of the Tecnofarma acquisition on Valeant's operations in Mexico and/or Latin America. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the company's most recent annual or quarterly report filed with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

    Contact:
    Laurie W. Little
    Valeant Pharmaceuticals
    949-461-6002
    laurie.little@valeant.com

(Logo:http://www.newscom.com/cgi-bin/prnh/20081125/VALEANTLOGO)


'/>"/>
SOURCE Valeant Pharmaceuticals International
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Three Rivers Pharmaceuticals(R), LLC Acquires Hepatitis C Drug Infergen(R) from Valeant Pharmaceuticals
2. Valeant Pharmaceuticals to Announce 2008 Fourth Quarter and Year Results on February 24, 2009
3. Valeant Pharmaceuticals Reports Fourth Quarter and Full Year Financial Results
4. Valeant Pharmaceuticals Announces Annual Stockholder Meeting Date
5. Valeant Pharmaceuticals to Present at Cowen and Company 29th Annual Health Care Conference
6. Valeant Pharmaceuticals Appoints President of Valeant Pharmaceuticals International
7. Valeant Pharmaceuticals to Announce 2009 First Quarter Results on May 5, 2009
8. Valeant Pharmaceuticals Highlights Taribavirin Phase IIb 60-Week Data Presentation at European Association for the Study of Liver (EASL) Annual Meeting
9. Valeant Pharmaceuticals to Present at Bank of America and Merrill Lynch 2009 Health Care Conference
10. Valeant to Acquire Polish Dermatology Company
11. Valeant Announces Increase to Securities Repurchase Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/25/2017)... ... 25, 2017 , ... The doctors at Wall Centre Dental are now expanding ... and require sedation to receive dental care. The doctors offer three treatment options to ... cleanings to oral surgery, at their dental office in Vancouver. Wall Centre Dental is ...
(Date:4/25/2017)... ... April 25, 2017 , ... Patients ... that achieves results in a fraction of the time as traditional braces – ... Significance Dental Specialists, now offers this revolutionary treatment with or without a referral. ...
(Date:4/25/2017)... ... April 25, 2017 , ... As Spring reignites vigilance ... research related to Zika virus during pregnancy, as well as other prenatal exposures ... science. , The Teratology Society is an international and multidisciplinary ...
(Date:4/25/2017)... (PRWEB) , ... April 25, 2017 , ... Buyers and ... recreational users to dispensaries and head shops –can’t help but be heartened by the ... the tell-tale cannabis odor aptly described as “skunk smell.” At last they can ...
(Date:4/25/2017)... Clara, CA (PRWEB) , ... April 25, 2017 ... ... announces the addition of predictive analytics to its patient care management module. Using ... compliance even before a patient has been initiated on continuous positive airway pressure ...
Breaking Medicine News(10 mins):
(Date:4/18/2017)... , April 18, 2017  Cardinal Health (NYSE: ... 1 fiscal 2017 earnings per share (EPS) guidance ... 2019.  This is in conjunction with this morning,s announcement ... Vein Thrombosis and Nutritional Insufficiency businesses. Cardinal ... continuing operations will be at the bottom of its ...
(Date:4/18/2017)... , April 18, 2017 Viverae ® , ... announce the integration of IBM ® Watson Campaign ... deliver targeted communications for a personalized experience. Through digital ... on their health in real time. The enhanced experience ... most to members, wherever they are in their journey ...
(Date:4/18/2017)... -- Astute Medical, Inc., developer of biomarkers for better healthcare, ... the 2017 National Kidney Foundation (NKF) Spring Clinical ... 22. Physicians will present data on two biomarkers, ... acute kidney injury (AKI) during the management of patients ... Elevated levels of TIMP-2 and IGFBP-7 have been shown ...
Breaking Medicine Technology: