Valeanbuys Polish derma firm ENO-FARM for $28M

Valeant Pharmaceuticals International of the USA has acquired EMO-FARM, a privately-held company located in Poland for around $28.0 million. The  transaction expands the base for Valeant in Poland into multiple  therapeutic categories. EMO-FARM has a strong expertise in topical  products and brings with it a portfolio of currently-marketed products  and additional ones under registration. As part of the transaction,  Valeant will also acquire a state-of-the-art 13,000 square foot  manufacturing plant completed earlier this year that specializes in  gels, creams and ointments. Current annualized revenues are about $12.0  million.

"The acquisition of EMO-FARM is consistent with our business plan  strategy," stated Michael Pearson, chief executive of the US firm. "We  now have a platform from which we can launch various topical products  including our dermatology pipeline and become a premier dermatology  company in the countries in which we operate The combination of an  established portfolio of products, an anti-infective topical compound we  plan to launch in 2010, and a current Good Manufacturing Practice-ready  plant that equips us with new manufacturing capabilities, provides us  with a solid dermatology opportunity in Poland, and eventually,  throughout Central Europe," he added.