Tuesday, August 5, 2008

Valeant Sells European Operations

Aliso Viejo-based Valeant Pharmaceuticals International, which develops specialty pharmaceuticals, said Monday that it has agreed to sell the firm's business operations in Western Europe and Eastern Europe, including Russia. The firm said those operations will go to Meda AB, a specialty pharmaceuticals firm based in Stockholm, Sweden. The deal is worth $392M in cash, and includes rights to all products and licenses currently marketed by Valeant in those regions. The deal excludes Valeant's business in Poland, Hungary, Slovakia, and the Czech Republic.