Valeant Adds One More Acquisition, Buying Medicis for About $2.6 Billion

Valeant Pharmaceuticals International Inc. and Medicis Pharmaceutical Corp. Sept. 3 announced that they have a definitive agreement under which Valeant will acquire Medicis for about $2.6 billion.

Medicis is an independent specialty pharmaceutical company in the United States focusing on treating dermatological and aesthetic conditions, the companies said. Its leading prescription brands include acne treatment Solodyn (minocycline HCl); anti-wrinkle treatments Restylane and Perlane; and Zyclara (imiquimod) cream 3.75 percent, a treatment for certain skin growths.

Under the transaction, Canadian company Valeant will purchase all of the Medicis outstanding common stock for $44 per share in cash, which values the common ...