The new entities are being established in Canada, Mexico, and Australia.

Valeant Pharmaceuticals is forming joint ventures with Meda in Australia, Canada, and Mexico. Meda will hold the majority stake in the ventures.

This move comes after a couple of years of divestitures and restructuring for Valeant. Most recently, Valeant sold its Eastern and Western European franchises to Meda for $392 million.

The joint ventures announced today will pursue regulatory filings and manage commercialization of certain current and future products. Valeant will participate in a profit share.

Initially, the new entities will initially include Sublinox, for the treatment of insomnia, and flupertine for pain treatment. The agreement between the companies includes the option to include additional products.

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