Valeant Pharmaceuticals International (VRX) said its wholly owned subsidiary, Valeant Canada Limited, has agreed to acquire Laboratoire Dr. Renaud, a cosmeceutical company located in Canada for approximately C$23 million. The transaction is expected to be accretive in 2010.
Further, as part of the transaction, Valeant will also enter into a lease for a 45 thousand square foot facility that includes a manufacturing plant completed in 2007 specializing in topical formulations.
The transaction is expected to occur before the end of the year.
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