Processing Magazine

Valeant to Buy PharmaSwiss for $481 Million

February 1, 2011

The New York Times reports, Valeant Pharmaceuticals said it would acquire PharmaSwiss, the maker of generic drugs, for 350 million euros ($481 million). PharmaSwiss, based in Switzerland, has operations in 19 Central and East European countries, as well as Greece and Israel. The deal is expected to close this quarter or next, pending regulatory approval, and to be immediately accretive to Valeant shares. Valeant specializes in neurology, dermatology and branded generics, it said. PharmaSwiss also represents multinational drug makers like Amgen, Lilly and Pfizer.