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25 May 2011

Valeant Pharma to Acquire AB Sanitas for $441M

Valeant Pharmaceuticals International Inc. will acquire a Lithuanian specialty pharmaceutical company in a two-stage deal worth $441.3 million.

Canadian drugmaker Valeant Pharmaceuticals International Inc. announced Tuesday that the company will acquire AB Sanitas, a Lithuanian specialty pharmaceutical firm, in a two-stage deal worth 314 million euros ($441.3 million) in cash.


AB Sanitas sells about 390 generic products in nine Central and Eastern European countries. Its largest markets are Poland, Russia, and Lithuania.


Valeant said the major shareholders of AB Sanitas have agreed to sell it an 87.2 percent stake in the company. That portion of the deal is expected to close during the third quarter, and Valeant said it will then start an offer for the remaining shares.


The company ex

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