Valeant Pharmaceutical aims to become major global skin care player

Related tags Global skin care Medicine

Canada-based Valeant Pharmaceuticals says it wants to become a major global skin care player following a string of acquisitions in this area.

In an interview with newspaper The Edmonton Journal, CEO Michael Pearson said he wants to build on a current market share of the $20bn global skin care market that is currently estimated to be approximately 5 per cent.

Last week the company announced the acquisition of Janssen Pharmaceutical for an estimated $345m, as well as the planned $424m acquisition Sanofi's Dermik skin care business.

It is estimated that the two planned acquisitions should push Valiant's annual turnover from skin care products above the $1bn mark.

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