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GEN News Highlights : Apr 18, 2012

Valeant to Purchase Certain Assets from Atlantis Pharma in Mexico

Agreement adds branded generics that brought in $26 million last year.

Valeant Pharmaceuticals is acquiring certain assets from Atlantis Pharma, a branded generics pharmaceutical company located in Mexico. The acquired assets' total revenue in 2011 was approximately $26 million and is expected to deliver double-digit growth in 2012.

Atlantis’ portfolio consists of therapeutics for gastrointestinal diseases, pain, and inflammatory disorders, and together bring in a total of $71 million. The transaction with Valeant is expected to close in the second quarter.

"Atlantis Pharma's well-known brands in Mexico, and the potential to expand our export business to Central America and the Andean region, make this a strong addition to our current operations in Mexico," states J. Michael Pearson, chairman and CEO of Valeant. "The ability to combine these assets with our existing operations in Mexico should provide distinct commercial synergies for our overall business."

Valeant Pharmaceuticals is a multinational specialty pharmaceutical company that develops, manufactures, and markets a range of products primarily in the areas of neurology, dermatology, and branded generics.