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Valeant acquires dermatology portfolio and speciality products from Valeo

The Canadian Press

LAVAL, Que. - Valeant Pharmaceuticals International (TSX:VRX) said Monday that it has acquired a dermatology portfolio of drugs and several speciality products from Valeo Pharma.

Financial terms of the deal were not immediately available.

Valeant said the acquisition by its Canadian subsidiary Valeant Canada is complementary to its current product offerings.

Valeant Canada's recent acquisitions include Dermik, Medicis, Obagi, Bausch & Lomb, Solta Medical and Pro-Derma.

Valeant Pharmaceuticals is in the midst of a hostile takeover fight for U.S. drug maker Allergan Inc., the maker of Botox.

Allergan has repeatedly rejected Valeant's offers to buy the company, the latest for about US$53 billion in cash and stock.