Canadian Pharma Adds Mexican Assets

Valeant Pharmaceuticals International has agreed to acquire certain assets from Mexico’s Atlantis Pharma for $71m cash, it says. The Canadian company, which has existing Mexican operations, picks up branded generic products sold in Mexico, a spokeswoman says, without elaborating further. Atlantis’ portfolio includes brands in the gastro, analgesics and anti-inflammatory therapeutic categories. The transaction is expected to close in the second quarter, subject to certain closing conditions including regulatory approvals, and is expected to be immediately accretive, Valeant says. Valeant does not typically use advisors in its deals, the spokeswoman says.