Valeant Buys Xcel For $280M

San Diego-based Xcel Pharmaceuticals was acquired yesterday by Valeant Pharmaceuticals for $280M, in an all cash deal. Xcel has a number of products for the treatment of epilepsy and acute migraine headaches. The deal also calls for Valeant to retire $44M in Xcel debt. Valeant said that it would use Xcel to boost its North American business and neurology offerings.