Valeant is shelling out $95 million to acquire Coria Laboratories, a pharmaceutical company focused on dermatology products in the United States. Valeant will purchase all of the outstanding shares of Coria from its parent company, DFB Pharmaceuticals. The move expands Valeant's U.S. business and boosts the company's dermatology franchise.
"Valeant is committed to growing our dermatology franchise and this acquisition is a key step in transforming this business in the U.S. and gaining the critical mass and profitability we need," said J. Michael Pearson, chairman and CEO of Valeant. "The acquisition of Coria provides Valeant with access to a unique product portfolio, which includes both prescription and OTC products, additional pipeline opportunities for the future and a talented dermatology workforce."
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