Friday, March 22, 2013

Valeant Pharmaceuticals - Investors Send Shares To All Time Highs After Yet Another Acquisition

Shares of Valeant Pharmaceuticals (VRX) rose some 2.5% in Wednesday's trading session. The specialty pharmaceutical company announced the acquisition of Obagi Medical Products (OMPI).

The Deal

Valeant Pharmaceuticals announced that is has agreed to acquire Obagi Medical Products, a leader in topical aesthetic and therapeutic skin-health systems. The company is known from leading dermatology brands including Obagi Nu-Derm, Condition & Enhance and Obagi-C, among others.

Valeant will pay $19.75 per share in cash for Obagi Medical, valuing the company around $344 million. The deal value represents a 28% premium compared to Tuesday's closing price.

Read the entire article on Seekingalpha by clicking the following link

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