Valeant Will Buy Brazilian Pharmaceutical for $56 Million

According to Reuters, Valeant Pharmaceuticals International has agreed to buy a privately held Brazilian pharmaceutical company for about $56 million. The private company focuses on branded generics and over-the-counter (OTC) products and had annual sales of about 49 million Brazilian reals in 2009, Valeant said. The deal is expected to close in the second quarter and will add to Valeant''s results in 2010, it said.