Valeant Pharmaceutical Inc to bag Lithuanian Sanitas
Kaunas – US company Valeant Pharmaceuticals International, Inc. wants to purchase Lithuanian generic drug maker Sanitas AB for EUR314 million in cash. Shareholders of Sanitas have already agreed to sell Valeant 87.2% of Sanitas’ outstanding shares. Sanitas has a generics product portfolio of 390 products and outstanding marketing power in Central and Eastern Europe, primarily Poland, Russia and Lithuania. The firm, which is developing dermatology, ophthalmology and hospital injectables, is expected to make more than EUR100 million in revenue this year.