MONTREAL — Valeant Pharmaceuticals International is acquiring "certain assets" of a drug maker based in Mexico.
Valeant said Wednesday that it would buy gastric, analgesic and anti-inflammatory drugs from branded generics manufacturer Atlantis Pharma for $71 million. The products had sales of $26 million last year.
"Atlantis Pharma's well-known brands in Mexico, and the potential to expand our export business to Central America and the Andean region, make this a strong addition to our current operations in Mexico," Valeant chairman and CEO J. Michael Pearson said. "The ability to combine these assets with our existing operations in Mexico should provide distinct commercial synergies for our overall business."