After last week's Johnson & Johnson acquisition of Mentor Corporation, Rhonda Rundle of the WSJ is reporting that Valeant Pharmaceutical Sciences International is buying Dow Pharmaceutical Sciences Inc. for $285 in a move that will boost Valeant's presence in the skin-care market.
From Valeant's website:
"Valeant is working to build a significant dermatology portfolio through both acquisitions and internal growth. Valeant's dermatology sales force currently focuses on promoting Kinerase® and Efudex®/Efudix®, but also sells a number of other successful brands including Oxsoralen-Ultra®, Dermatix™, Glyquin®, Solaquin® and Eldoquin® in markets throughout the world."
They mostly sell creams for wrinkles, acne, and scar reduction. I expect to see a lot more of these acquisitions by companies looking to hedge their bets in this economy.
Dr. Jason Pozner
Sanctuary Medical Aesthetic Center
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