Pharma BD Deal Intelligence

Valeant Pharmaceuticals International, Inc. / Medicis Pharmaceutical Corporation

2012 · Acquisition/Merger · $2.6B · Complete

WRONG BY 38 POINTS
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The coverage arc

Sep 04, 2012 Bloomberg Bullish

Valeant Revives Growth Plan With $2.6 Billion Medicis Deal. Valeant's stock rose 15 percent, its biggest gain since January 2011 and highest close on record,…

Sep 04, 2012 FierceBiotech Neutral

Valeant scoops up Medicis' dermatology portfolio in $2.6B buyout, leaping to the top tier of dermatology and aesthetics through another debt-funded acquisition.

Dec 12, 2012 Zacks via Yahoo Finance Bullish

Zacks Investment Research framed the closing as broadly positive: the combination created a global dermatology leader and was expected to be immediately…

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Valeant acquired Medicis at $44/share cash for $2.6B (39% premium). Combined dermatology/aesthetics franchise pro forma 2012 US revenue >$1.7B. Identified $225M cost synergies within 6 months.

Did it work? Outcome assessment

Strategic verdict
Failed to Achieve
Financial impact
Impaired/Written Down
Pipeline outcome
Mixed

Key facts

Related deals — scored

DealYearValueOutcome
Valeant Pharmaceuticals International, Inc. / Medicis Pharmaceutical Corporation (this deal)2012$2.6B33
Valeant Pharmaceuticals International, Inc. / Dow Pharmaceutical Sciences, Inc.2009$285M66
Valeant Pharmaceuticals International, Inc. / iNova Pharmaceuticals2011$700M63
Valeant Pharmaceuticals International, Inc. / Xcel Pharmaceuticals, Inc.2005$280M42
Valeant Pharmaceuticals International, Inc. / Dermik Laboratories (Sanofi dermatology unit)2011$425M36
Valeant Pharmaceuticals International, Inc. / Bausch + Lomb2013$8.7B36
Valeant Pharmaceuticals International, Inc. / PreCision Dermatology, Inc.2014$475M23

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