Valeant to Acquire Marketing Rights for Skin Drugs in U.S., Canada, Mexico
Valeant Pharmaceuticals will pay $76 million plus additional royalties to acquire the marketing rights to skin medications for the U.S., Canada and Mexico markets.
Valeant Pharmaceuticals International Inc. will pay $76 million plus additional royalties to acquire the marketing rights to skin medications Elidel and Xerese for the U.S., Canada and Mexico markets.
The company said the agreement, signed with Sweden's Meda AB, includes 18 months milestone and royalty payments amounting to about $130 million.
Further double-digit royalty payments amounting to $120 million will be paid between 2013 and 2015, which will factor in sales of Elidel and Xerese as well as royalties related to Valeant's rights for Zovirax.
Valeant bought the North American rights to anti-cold sore drug Zovirax from GlaxoSmithKline for $300 million
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