Actavis to acquire rights to Valeant drug

PARSIPPANY, N.J. — Drug maker Actavis has acquired rights to a treatment for an experimental bacterial vaginosis from Valeant Pharmaceuticals International for about $55 million, the drug makers said Wednesday.

Actavis Specialty Brands' acquisition of Valeant's metronidazole vaginal gel is in the 1.3% strength. The deal includes an upfront payment, milestone payments and royalties for the first three years after the drug is commercialized. Actavis hopes to market the drug as early as the middle of next year.

"We believe this compound has significant potential to help patients in need of new treatment," Valeant EVP and company group chairman Laizer Kornwasser said. "We are very pleased to acquire the rights to an additional potential product that further expands our Women's Health development pipeline and look forward to the ultimate launch of the product."

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