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:6/26/2016)... ... 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, a holistic ... World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is located. ... some of the world’s leading providers of cereal and other breakfast foods. Its residents ...
(Date:6/26/2016)... Cary, North Carolina (PRWEB) , ... June 26, 2016 , ... ... the release of a new product that was developed to enhance the health of ... harvested for centuries. , The two main herbs in the PawPaws Cat Kidney ...
(Date:6/26/2016)... Lake Orion, Clarkston, Michigan (PRWEB) , ... June ... ... direction with respect to fertility once they have been diagnosed with endometriosis. These ... tolerable intercourse but they also require a comprehensive approach that can help for ...
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs surgery services, ... Mohs Surgery and to Dr. Russell Peckham for medical and surgical dermatology. , Dr. ... skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was ...
(Date:6/25/2016)... ... 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX users can ... CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over 1,300 hand-drawn ... X . Simply select a ProHand generator and drag it above media or text ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... -- According to a new market research ... Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, ... Purchase (Retail, Non-Retail) - Trends & Global Forecasts to ... for the forecast period of 2016 to 2021. This ... 2021 from USD 1.65 Billion in 2016, growing at ...
(Date:6/24/2016)... , June 24, 2016  Arkis BioSciences, ... less invasive and more durable cerebrospinal fluid treatments, ... funding.  The Series-A funding is led by Innova ... Fund, and other private investors.  Arkis, new financing ... instrumentation and the market release of its in-licensed ...
(Date:6/23/2016)... 23, 2016 Any dentist who has made an ... current process. Many of them do not even offer this ... and high laboratory costs involved. And those who ARE able ... such a high cost that the majority of today,s patients ... Parsa Zadeh , founder of Dental Evolutions Inc. and ...
Breaking Medicine Technology: