Valeant Pharmaceuticals Keeps Buying

Valeant Pharmaceuticals International (NYSE: VRX) couldn’t keep its checkbook closed last week. On September 1, Valeant obtained the exclusive license to develop and commercialize brodalumab, a psoriasis drug candidate, from AstraZeneca (NYSE: AZN) for $100 million. Valeant will hold the exclusive rights to develop and commercialize brodalumab globally, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin Co., Ltd. under a prior arrangement with Amgen Inc. (NASDAQ: AMGN), the originator of brodalumab. A day later, the company announced its acquisition of Synergetics USA, Inc. (NASDAQ: SURG), a medical device company specializing in surgical instruments for ophthalmology and neurosurgery, for approximately $164 million. Synergistics’ portfolio will boost Valeant subsidiary Bausch + Lomb‘s presence in  the rapidly evolving field of vitreoretinal surgery.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *