FTC clears Valeant-Medicis deal

Deal still subject to stockholder approval

MONTREAL — The Federal Trade Commission has approved a deal by Valeant Pharmaceuticals International to buy a Scottsdale, Ariz.-based drug maker.

Valeant said the FRC had finished reviewing its planned acquisition of Medicis Pharmaceutical and allowed the waiting period required under merger and acquisition laws to terminate early.

Valeant said the deal is still subject to conditions like the approval of Medicis' stockholders, who will have a special meeting on Dec. 7. Medicis makes drugs for asthma, fungal infections and skin conditions like acne and eczema.

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