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Tickers in this Article: AGN, VRX, NVS, SLXP
Valeant Pharmaceuticals International, Inc. (VRX) recently closed the acquisition of Russia-based Natur Produkt International, JSC for $163 million in addition to adjustments for net debt and working capital. 
The acquisition was announced in Mar 2012. The erstwhile Natur Produkt was a major player in the over-the-counter (OTC) segment, powered by key drugs such as AntiGrippin, a leading cough and cold remedy, and Anti Angin, Sage and Eucaplyptus MA brand names, leading sore throat remedies. 
 
We remind investors that Valeant Pharma, a Canada-based specialty pharmaceutical company, has been quite active on the acquisition front in recent times with the largest being Medicis. 
 
The company realized incremental product sales revenue of $76.6 million in the third quarter, from acquisitions made in 2012, primarily by Probiotica, OraPharma, Gerot Lannach, Pedinol Pharmacal, Inc., University Medical, Swiss Herbal Remedies Limited and Atlantis. 
 
In Dec 2012, Valeant Pharma acquired all of the outstanding common stock of Medicis Pharmaceutical Corporation for approximately $2.6 billion.
 
The erstwhile Medicis Pharma focused on the development and marketing of products for the treatment of dermatological and aesthetic conditions in the US. Key products include Solodyn, Perlane, Restylane, Ziana, Dysport and Zyclara. The acquisition has further strengthened Valeant Pharma's product portfolio in the dermatological field. 
 
We note that acquisition activity has been quite strong in recent times in the dermatological segment. Apart from Valeant Pharma's acquisition of Medicis Pharma, the acquisition of specialty dermatology generics company, Fougera Pharma by Novartis (NVS) in Jul 2012, was also in the news.
 
Moreover, Allergan, Inc. (AGN) acquired privately-held SkinMedica, Inc. in Dec 2012 with a focus on the latter's topical aesthetics skin care business. 
 
Valeant Pharma remains a top pick with a Zacks Rank #1 (Strong Buy). Salix Pharmaceuticals Ltd. (SLXP) also looks attractive with a Zacks Rank #1. 

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