Nestle SA said on Wednesday it was boosting its emerging skincare business by buying the rights to several dermatology products from Canada's Valeant Pharmaceuticals International Inc for $1.4 billion in cash.The Swiss food giant took a deeper dive into healthcare in February by taking over the Galderma dermatology joint venture it had with L'Oreal and hinted at the time that more deals would follow.Under the agreement with Valeant, Nestle is acquiring rights to commercialise in the United States and Canada Restylane, Perlane and Emervel, products used for corrective facial cosmetic treatments, and Dysport, a cosmetic dermatology treatment. It will also get rights to Sculptra, a dermal filler for cosmetic and medical use.Galderma already commercialises the products included in the deal outside the United States and Canada.
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 fell by 2.63% or $-3.51/share to $129.95. In the past year, the shares have traded as low as $81.94 and as high as $153.10. On average, 2938120 shares of VRX exchange hands on a given day and today's volume is recorded at 4363751.
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 fell by 1.85% or $-2.66/share to $141.04. In the past year, the shares have traded as low as $83.39 and as high as $170.45. On average, 389198 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 399916.
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