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Valeo Pharma completes sale of derm portfolio to Valeant Canada

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Manitex Capital has announced that its 40% owned subsidiary, Valeo Pharma, completed the sale of its dermatology portfolio and several specialty products to Valeant Canada.

The transaction will close for an aggregate consideration of $25.3 million, $18.3 million of which will be paid in cash at closing, with the balance subject to certain post-closing adjustments during a 3-year period, according to a Manitex press release.

Under the transaction, Valeo Pharma will now be able to focus on product development, acquisition, in-licensing and commercialization efforts on specialty therapeutic areas and orphan diseases, according to the release.