Valeant seeks to acquire OTC company

ALISO VIEJO, Calif. Valeant Pharmaceuticals International, whose consumer brands include CeraVe and Kinerase, has announced that its wholly owned subsidiary, Valeant Canada Limited, is looking to acquire Vital Science, a Canadian OTC dermatology company, for C$10.5 million.

The deal is expected to close in the second quarter. Vital Science currently has annualized sales of roughly C$11 million.

"Combining another attractive dermatology company with the Dr. Renaud portfolio we acquired last year is another significant step in our Canadian strategy," stated J. Michael Pearson, chairman and CEO. "Vital Science's established brands such as dermaglow and Heiko, along with its strong distribution network in the Canadian retail channel, will enhance our current portfolio of products while providing us with the ability to more broadly promote our U.S. consumer brands such as CeraVe and Kinerase in the Canadian marketplace. We look forward to continuing to actively support the promotion of dermaglow and Heiko in the Canadian market as well as select international geographies."