Valeant Buys Brazilian Pharmaceuticals Firm

Aliso Viejo-based Valeant Pharmaceuticals announced today that it has entered into a binding agreement to acquire a pharmaceuticals firm located in Brazil, in a deal worth approximately $56M (97 million Brazilian reals). According to Valeant, the un-named firm is focused on branded generics and over-the-counter products, and has annual sales of approximately 49 million Brazilian reals in 2009. Name of the Brazilian firm was not announced. The acquisition is the firm's second in Brazil in the last month. The firm closed its acquisition of Insituto Terapeutico Delta Ltd. last month.