Valeant to Acquire PreCision Dermatology

Quebec drugmaker Valeant Pharmaceuticals is acquiring Rhode Island’s PreCision Dermatology in a transaction expected to close in the first half of this year. The deal is worth about $475 million, with an additional $25 million to be paid to PreCision based on sales milestones, Valeant said Monday.

PreCision brings “a wide range of medical dermatology products, treating a number of topical disease states such as acne and atopic dermatitis, and should bring tremendous value to Valeant’s medical dermatology portfolio,” CEO J. Michael Pearson said.

Valeant currently has the topical anti-fungal IDP 108 and luliconazole awaiting regulatory approval, with metronidazole just completing Phase III and IDP 118 for psoriasis just entering Phase II. The company already has a wide array of dermatology products, from hand creams to topical gels for acne vulgaris and tinea pedis. — Lena Freund

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