Valeant Pharmaceuticals buys Brazilian sports nutrition firm Probiotica03 February 2012Multinational specialty pharmaceutical company Valeant has successfully acquired Brazilian sports nutrition and food supplements manufacturer Probiotica Laboratorios in a R$150 million deal. Probiotica currently markets a full line of over-the-counter sports nutrition products and other food supplements, with a 30% share of the market. Probiotica's 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," said J. Michael Pearson, Valeant’s 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." Valeant Pharmaceuticals currently develops, manufactures and markets pharmaceutical products primarily in neurology, dermatology and branded generics. | |
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