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Valeant Pharmaceuticals acquires Aton Pharma
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ALISO VIEJO, Calif. — Valeant Pharmaceuticals International, a pharmaceutical company specializing in neurology and dermatology, has completed its acquisition of Aton Pharma.
This follows Valeant's announcement earlier this month that it had signed an agreement to acquire Aton for approximately $318 million, according to press releases from the companies.
Under the terms of the agreement, Valeant will tender Aton milestone payments once development and commercial targets for certain products in Aton's pipeline are met. In return, Valeant will retain global rights to the majority of Aton's products, while future development of a portion of Aton's pipeline portfolio will be co-funded by the seller — affiliates of Cerberus Capital Management — under a profit-sharing agreement with Valeant, according to the release.
"The acquisition of Aton fits into our long-term strategy to pursue diversified opportunities within the pharmaceutical market and offers us another platform for future growth," J. Michael Pearson, chairman and CEO of Valeant, said in the release.
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