Valeant To Buy PharmaSwiss For €350M

Canadian specialty pharmaceutical company, Valeant Pharmaceuticals International, will acquire PharmaSwiss for €350 million, Trading Markets reports. The Swiss specialty pharmaceutical company was sold by HBM BioVentures (Cayman) and the Polish Enterprise Fund VI.

Valeant may have to pay about €30 million to certain stockholders of PharmaSwiss, as part of the transaction, after which, PharmaSwiss may have about €38 million of cash on hand and no debt, adds Reuters. The deal is expected to be completed by the second quarter of 2011.

Click here for the story from Trading Markets.

Click here for the additional coverage from Reuters.