Aliso Viejo-based drug maker Valeant Pharmaceuticals International is paying $10.4 million for a Canadian maker of skin care products sold at stores, doctor offices and spas.
Valeant is buying Vital Science Corp., which is based in the Toronto area and has yearly sales of $10.9 million. The deal is expected to close in the current quarter.
Vital Science makes several brands of wrinkle treatments, moisturizers, anti-aging products and others.
The deal is the latest by Valeant to boost its skin care business. The company also makes which makes neurology, antiviral and generic drugs.
In December, Valeant spent nearly $22 million to buy Canada’s Laboratoire Dr. Renaud, a maker of skin products sold in spas.
Chief Executive J. Micheal Pearson, himself Canadian, called the Vital Science acquisition “another significant step in our Canadian strategy.”
Earlier this month, Valeant said it was paying $56 million for an undisclosed maker of generic and over the counter drugs in Brazil, its second there in as many months.
The company didn’t disclose the name of the drug maker, presumably out of safety concerns for the owners in Brazil, where kidnapping is a problem.
In March, Valeant said it was paying $28 million for Instituto Terapeutico Delta Ltda of Sao Paulo, plus another $28 million for a drug plant.
The deals follow others in 2009.
In September, Valeant paid $69 million and issued 162,500 shares of its stock for Private Formula International Holdings Pty Ltd., an Australian maker of skin products sold without prescriptions.
In October, it paid $18 million to buy the rights to several skin drugs made by a Polish company.
In late 2008, Valeant spent $285 million 2008 for Dow Pharmaceutical Sciences Inc., a Petaluma-based company that gave Valeant Acanya, an acne gel, and other drugs.
Valeant’s goal is to boost its skin care revenue to $500 million this year.
The company doesn’t specifically break out dermatology sales in its results. Valeant includes them in its specialty pharmaceuticals group, which made up half of the company’s $830.5 million in 2009 revenue.
