Navigation Links
Valeant Pharmaceuticals Announces License Agreement With Meda for North American Rights for Elidel® and Xerese™
Date:6/29/2011

MISSISSAUGA, Ontario, June 30, 2011 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) announced today that its subsidiary, Valeant International (Barbados) SRL (VIB), has signed an agreement to acquire rights to both Elidel (pimecrolimus 1% cream) and Xerese (acyclovir and hydrocortisone cream 5%/1%) from Meda, an international specialty pharmaceutical company (listed on Nasdaq Nordic Exchange in Stockholm) for the U.S., Canada and Mexico.  Valeant will pay Meda initial payments of approximately $76 million and over the next 18 months, will pay a series of potential milestones and royalties totaling approximately $130 million. Thereafter, Valeant will pay a long term running double digit royalty rate on net sales of Elidel, Xerese and Zovirax® including additional minimum royalties of $120 million during 2013 - 2015. Valeant has exclusive rights to Zovirax in the U.S. and Canada.  In addition, Valeant and Meda have entered into a development agreement for future life cycle management of both Elidel and Xerese. The transaction is expected to be accretive immediately.

"As previously announced, the addition of a strong worldwide brand such as Elidel is a significant enhancement to our growing North American dermatology portfolio," stated J. Michael Pearson, chairman and chief executive officer.  "The addition of Xerese, which was recently approved by the U.S. Food and Drug Administration, gives us a new strong platform for growth and will be a complementary addition to our dermatology franchise, solidifying our position as a leading dermatology company.  We believe that dermatology is an attractive therapeutic area for Valeant and will continue to look for opportunities to expand our presence with dermatologists in our key markets."

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.

ZOVIRAX® is a registered trademark of the GlaxoSmithKline group of companies, and is used under license by Valeant.

Xerese Important Note

Xerese has not been reviewed by the Canadian regulatory authority Health Canada.  It may not be sold or promoted in Canada unless and until the Canadian regulatory authority Health Canada has approved a New Drug Submission.

Caution Regarding Forward-Looking Information

To the extent any statements made in this document contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and may be forward-looking information as defined under applicable Canadian securities legislation (collectively, "forward-looking statements").

These forward-looking statements relate to, among other things, the license of Elidel and Xerese by Meda to Valeant and, the impact of Elidel and Xerese on Valeant's dermatology portfolio.  Forward-looking statements can generally be identified by the use of words such as "believe", "anticipate", "expect", "estimate", "intend", "continue", "plan", "project", "will", "may", "should", "could", "would", "target", "potential" and other similar expressions.  In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.  Actual results may differ materially from those expressed or implied in such statements.  Important factors that could cause actual results to differ materially from these expectations include, among other things, the impact of Elidel and Xerese on Valeant's dermatology portfolio and the impact of the acquisitions on Valeant's results, and the risk factors as detailed from time to time in Valeant's reports filed with the Securities and Exchange Commission ("SEC") and the Canadian Securities Administrators ("CSA").

(Logo:  http://photos.prnewswire.com/prnh/20101025/LA87217LOGO)

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


'/>"/>
SOURCE Valeant Pharmaceuticals International, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Valeant Pharmaceuticals Reports 2011 First Quarter Financial Results
2. Valeant Pharmaceuticals Congratulates Teva and Cephalon on Their Transaction
3. Valeant Pharmaceuticals to Announce 2011 First Quarter Results on May 9, 2011
4. Valeant Pharmaceuticals Responds to Cephalon Boards Letter
5. Valeant Pharmaceuticals Announces Redemption of 4.0% Convertible Subordinated Notes Due 2013
6. Regulatory Update - GSK and Valeant Respond to FDA on ezogabine
7. Valeant Pharmaceuticals Adds Corporate Governance Expert Abe Friedman to its Slate of Proposed Cephalon Directors
8. Valeant Pharmaceuticals Files Presentation for Cephalon Stockholders
9. Valeant Pharmaceuticals Files Preliminary Consent Solicitation Statement With the SEC
10. Promius Pharma and Valeant Form Collaboration to Market Cloderm® Cream in the United States
11. Valeant Pharmaceuticals Proposes to Acquire Cephalon, Inc. for $73 Per Share in Cash
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/11/2017)... 2017 Zymo Research Corp., also known as ,The Epigenetics Company, ... aging in a precise manner using the myDNAge ™ test. Based ... professor of human genetics and biostatistics at the David Geffen School ... , Zymo Research,s proprietary DNAge ™ technology is used to analyze ... ...
(Date:7/11/2017)... 2017  Sysmex America, Inc., a leading provider ... as well as middleware information systems technology, today ... quality assurance easier and more risk free than ... for the innovation that it delivers to the ... assurance processes to a new level with automated, ...
(Date:7/10/2017)... , July 10, 2017  US medical equipment ... in 2021, according to Medical Equipment & ... by Freedonia Focus Reports. Continued increases in demand for ... aging of the population and supported by gains in ... equipment and supplies. New product introductions will also drive ...
Breaking Medicine Technology:
(Date:7/24/2017)... ... 24, 2017 , ... Every year, thousands of dedicated Higher Education and K12 ... event is coupled with a dynamic theme like Camp Canvas; this year, they’ve managed ... 0017. , To extend their partnership with Canvas beyond the LMS integration, Modo ...
(Date:7/24/2017)... , ... July 24, 2017 , ... ... media initiatives designed to promote awareness for Topricin’s revolutionary, natural, after-burn skin care ... one of the leading causes of long term skin conditions, including cancer. ...
(Date:7/24/2017)... ... ... although people are taking more steps to protect themselves from sunburn, half of all adults ... within the past year. It’s common and people have been dealing with them since the ... become conscientious of the risks that accompany sunburns. , The team at AloeVera.com , ...
(Date:7/24/2017)... ... July 24, 2017 , ... Anyone who uses scales know they ... would a pharmacist using that same scale to dispense medication. The first example is ... These illustrations show why it is important to have the right balance for the ...
(Date:7/24/2017)... ... July 24, 2017 , ... Sharon Kleyne, host of the nationally ... on VoiceAmerica sponsored by Nature’s Tears® EyeMist® recently talked on the air about an ... China. , The article by Zidor Aldama described the situation in which Chinese children ...
Breaking Medicine News(10 mins):