NEW YORK (AP) -- Valeant Pharmaceuticals International Inc. said Thursday it reached a new supply agreement with Galderma SA, which makes dermal fillers including Restylane and Perlane.
Galderma makes the products for Medicis Pharmaceutical Corp., a company Valeant is acquiring. Valeant said Galderma will continue to supply it with Restylane and Perlane at the same terms it has made those products for Medics. Valeant is also gaining the rights to two other products, Sculptra and Emervel. The Canadian drugmaker said it will make an upfront payment and royalty payments on Sculptra.
The agreement resolves a lawsuit from Galderma related to Valeant's acquisition of Medicis. Valeant agreed to buy Medicis in September for $44 per share, or about $2.6 billion. Valeant said it expects to complete the deal on Tuesday.
Shares of Valeant picked up 16 cents to $57.87 in afternoon trading and Medicis stock gained a penny to $43.95.
- Investment & Company Information