Valeant Pharmaceuticals Agrees To Acquire Amoun Pharmaceutical
Valeant Pharmaceuticals International, Inc. today announced that it has entered into a definitive agreement under which Valeant will acquire Mercury (Cayman) Holdings.
July 17, 2015
Valeant Pharmaceuticals International, Inc.
(NYSE: VRX and TSX: VRX) today announced that it has entered into a definitive agreement under which Valeant will acquire
Mercury (Cayman) Holdings
, the holding company of Amoun Pharmaceutical, for consideration of approximately
, plus contingent payments.
Amoun Pharmaceutical is the largest domestic company in the Egyptian pharmaceutical market and currently expects to reach
EGP 1.75 billion
by 2015, with annual growth of approximately 20%. Amoun operates a large, state-of-the-art manufacturing plant that is considered to be one of the largest and most up-to-date pharmaceutical facilities in
and has market leading pharmaceutical brands in therapeutic areas such as anti-hypertensives, broad spectrum antibiotics and anti-diarrheals.
Valeant intends for Amoun to serve as a platform for further expansion in the broader
pharmaceutical market and expects the transaction to close in the third quarter, subject to customary closing conditions.