Deals
Valeant to Buy Medicis Pharmaceutical for $2.6 Billion
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Valeant Pharmaceuticals International Inc., Canada’s largest publicly traded drugmaker, agreed to buy Medicis Pharmaceutical Corp. for $2.6 billion to expand in wrinkle treatments and other skin-care products.
Valeant said today it will pay $44 in cash for each share of Scottsdale, Arizona-based Medicis, 39 percent more than the Aug. 31 closing price. The transaction will close in the first half of 2013, Montreal-based Valeant said in a statement.