Valeant Pharmaceuticals International Inc (VRX.TO) (VRX.N) wants to become the world's biggest player in the skincare sector in about five years, its top executive told Reuters on Friday. The company has been signaling its intent with a string of recent mid-sized acquisitions in the highly fragmented but lucrative dermatology sector. The specialty drugmaker said on Friday it will pay $345 million to purchase the skincare unit of Johnson & Johnson-owned (JNJ.N) Janssen Pharmaceuticals. The news sent the Valeant's shares up 4 percent.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 4.54% or $2.39/share to $55.00. In the past year, the shares have traded as low as $19.17 and as high as $55.00. On average, 2357730 shares of VRX exchange hands on a given day and today's volume is recorded at 4536380.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 4.54% or $2.39/share to $55.00. In the past year, the shares have traded as low as $19.17 and as high as $55.00. On average, 2357730 shares of VRX exchange hands on a given day and today's volume is recorded at 4536380.
Johnson & Johnson is a holding company. The Company and its subsidiaries are engaged in the research and development, manufacture and sale of a range of products in the health care field. Shares of JNJ fell by 0.31% or $-0.21/share to $67.45. In the past year, the shares have traded as low as $56.86 and as high as $67.37. On average, 12181400 shares of JNJ exchange hands on a given day and today's volume is recorded at 10196057.
Source
