Valeant Pharmaceuticals Completes Divestiture of Generic Dermatology Products to Mylan

Published on Monday, 06 February 2012 08:34 Written by TradersHuddle Staff

MISSISSAUGA, Ontario, Feb. 6, 2012 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today announced that it has completed the divestiture of 1% clindamycin and 5% benzoyl peroxide gel (IDP-111), a generic version of Benzaclin, and 5% fluorouracil cream, (5-FU), an authorized generic of Efudex, to Mylan Inc. (Nasdaq: MYL). This action was required under the consent order issued by the Federal Trade Commission (FTC) as part of the acquisition of Dermik, a dermatology unit of Sanofi (EURONEXT: SAN and NYSE: SNY), which was completed in December 2011. 

About Valeant Pharmaceuticals International, Inc.

Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.  More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.

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SOURCE Valeant Pharmaceuticals International, Inc.