Valeant’s Acquires Medicis & Could Dominate The US Dermatology Market

Valeant Pharmaceuticals Int (NYSE:VRX) (TSE:VRX) announced on Labor Day, a deal to acquire Medicis Pharmaceutical Corp (NYSE:MRX) in a $2.6 billion deal. The Medicis shareholders would be paid $44 in cash per share held, marking a premium of 39% over the closing price of their stock on Friday. Medicis Pharmaceutical Corp (NYSE:MRX) was the market leader in dermatology products in the U.S. in 2011, and Valeant ranked No 3. As a result, the merged entity would have a major share in the U.S. market. The deal is attractive to Valeant Pharmaceuticals Int (NYSE:VRX) (TSE:VRX), particularly because the two companies have complementary drug portfolios. Valeant…