Valeant Pharmaceuticals Acquires Probiotica in Brazil
Valeant Pharmaceuticals International, Inc. announced that Valeant has acquired Probiotica Laboratorios Ltda. Probiotica currently markets a full line of over-the-counter sports nutrition products and other food supplements, with a 30 percent share of the market. Valeant will acquire Probiotica for R$150 million. Net revenue in 2011 was approximately R$80 million and double digit growth is expected in 2012. The transaction is expected to be immediately accretive.
"We are excited about this new opportunity in Brazil," stated J. Michael Pearson, chairman and chief executive officer. "The sports nutrition and food supplement market has outperformed the rest of the market and Probiotica's strong reputation in Brazil makes it a perfect fit into our growing consumer portfolio. With a continued emphasis on healthier lifestyles and fitness, we believe we have a unique opportunity not only in Brazil, but in potential export markets as well."
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
