Valeant

Valeant Dermatology Is Now Ortho Dermatologics

Humphries Announces Rebranding to Ortho Dermatologics

Valeant is rebranding its dermatology products under the name Ortho Dermatologics, which was acquired by Valeant in 2011. The rebranding coincides with the company’s launch of SILIQ, a biologic drug approved for the treatment of psoriasis. “The branding under Ortho Dermatologics allows us to showcase what we have as a company,” says William (Bill) Humphries, executive vice president of dermatology at Valeant. “We have more than 100 years of dermatology experience on the team now and we have a portfolio of dermatology products that, I think, is unrivaled in the industry.”

Valeant To Sell Obagi Medical Products

Valeant Pharmaceuticals has entered into an agreement to sell its Obagi Medical Products business for $190 million in cash to Haitong International Zhonghua Finance Acquisition Fund I. Valeant will use proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility. The transaction is expected to close in the second half of 2017, subject to customary closing conditions, including receipt of applicable regulatory approvals.

Valeant Announces New Leadership Team

Valeant Dermatology has introduced a new senior leadership team, led by Bill Humphries, executive vice president and group chairman. The senior team includes Michael McMyne, vice president of sales; Stacey Williams, vice president of marketing; Charles Hahn, vice president of professional and specialty development; Ed Shupenus, executive director of marketing operations; and Steve Kreider, executive director of sales and marketing for SILIQ (brodalumab) injection for subcutaneous use.

Valeant Completes Debt-Reducing Refinancing Transactions

Valeant Pharmaceuticals International has closed its previously announced refinancing transactions. These include its offering of $1.25 billion aggregate principal amount of 6.50% senior secured notes due in 2022, and $2 billion aggregate principal amount of 7% senior secured notes due in 2024. The company borrowed an additional $3 billion (approximately) of new term loans maturing in 2022.

Valeant Elects New SVP

Valeant Pharmaceuticals has named Sam Eldessouky senior vice president and corporate controller effective immediately. Eldessouky will be responsible for directing global accounting and financial reporting activities to ensure accurate and timely compliance with all internal and external requirements, and he will drive efficiencies and standardization throughout the global accounting function to enhance the monthly close, consolidations, controls and reporting processes. He will report directly to Valeant’s EVP and CFO, Robert Rosiello.

Allergan Files Lawsuit Against Valeant and Pershing Square

Allergan Files Lawsuit Against Valeant and Pershing Square

Allergan has filed a lawsuit in the United States District Court for the Central District of California against Valeant Pharmaceuticals International, Pershing Square Capital Management and its principal, William A. Ackman, alleging that Valeant, Pershing Square and Mr. Ackman violated federal securities laws prohibiting insider trading, engaged in other fraudulent practices, and failed to disclose legally required information.

Valeant Completes Acquisiton of PreCision and Submits HSR Filing for Proposed Acquisition Of Allergan

Valeant Pharmaceuticals International has completed its acquisition of PreCision Dermatology, which develops and markets high-quality dermatology products, including Locoid, Hylatopic, and Clindagel.

On July 14, 2014, Valeant announced it had filed a premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) with the U.S. Federal Trade Commission (FTC) relating to the proposed acquisition of Allergan.