Valeant to buy iNova for up to A$700 million

MISSISSAUGA, Ontario — Canadian drug maker Valeant Pharmaceuticals International is acquiring an Australian drug maker for up to A$700 million, Valeant said.

Valeant announced that it would acquire iNova, which sells and distributes prescription and OTC drugs in Australia, New Zealand, Southeast Asia and South Africa, from iNova's current shareholders, Archer Capital, Ironbridge and others.

Valeant will pay iNova shareholders A$625 upfront and up to A$75 million in milestones.

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