Valeant Pharmaceuticals Buys Australian Firm

Aliso Viejo-based Valeant Pharmaceuticals said today that it has acquired an Australian specialty pharmaceuticals firm, DermaTech Pty Ltd. Valeant said it paid approximately AU$19M ($12.5M US) for DermaTech, which develops products for the dermatology market. Valeant said that DermaTEch currently has annual net sales of approximately AU$10.5M ($6.9M US). Valeant Pharmaceuticals is a developer of a wide range of neurology and dermatology pharmaceuticals.