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.
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