Valeant Pharmaceuticals International said Friday it’s buying an undisclosed Brazilian drug maker for $28 million.
The Aliso Viejo drug maker said it was buying the Brazilian company, which had sales of $19 million in 2009, to expand its generic and skin drug products.
Valeant has made several deals in recent years to boost its dermatology business to around the $500 million yearly sales mark.
The company said skin drugs allow it to receive revenue from insurance companies and from products that patients pay for out of their own pockets.
Separately, Valeant said it was paying $28 million for a 165,000-square-foot manufacturing plant near Sao Paulo that’s been approved to produce solid, semi-solid and liquid drugs.
That new plant will allow Valeant to shut down what it called a “subscale” manufacturing facility in Brazil, Chief Executive J. Michael Pearson said.
