Valeant Pharmaceuticals International, Inc. announced that it will acquire all of the outstanding common stock of Obagi Medical Products. The transaction is expected to close in the first half of 2013.
Obagi is a leader in topical aesthetic and therapeutic skin-health systems with a product portfolio that includes leading dermatology brands including Obagi Nu-Derm, Condition & Enhance, Obagi-C Rx, ELASTIDerm and CLENZIDerm. Obagi had total revenue of approximately $120 million in 2012.
"The acquisition of Obagi will be a valuable supplement to Valeant's current dermatology portfolio and will further build upon our growing aesthetics franchise," stated J. Michael Pearson, chairman / CEO, Valeant.
Pearson continued, "Obagi is a leader in the physician dispensed market and enjoys a strong brand perception among physicians. The addition of their products will not only strengthen and diversify our dispensed portfolio, but also expand our market presence with dermatologists and plastic surgeons."