Valeant Pharma Buys Nicox In $20 Mln Deal - Quick Facts

(RTTNews) - Nicox S.A. (COX), a company focused on the ophthalmic market, Monday said Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) has bought its US diagnostics unit Nicox Inc. for up to $20 million.

As per the deal, Valeant acquired most of the Nicox commercial infrastructure in the US associated with diagnostics, while Nicox has retained a number of US-based employees focused on therapeutics, to pursue its specialty therapeutics strategy. Nicox said it plans to focus on its commercial and development resources on ophthalmic therapeutics for building an international ophthalmic company in Europe and in the US. This is in the backdrop of the opportunities available to Nicox in light of the recent acquisition of Aciex and positive phase 3 results for Vesneo.

Valeant acquired Nicox Inc. for $10 million in cash, plus further cash payments of up to $10 million based upon Valeant achieving certain sales targets with the transferred products.

Nicox said its operations outside the US and its recent acquisition of Aciex are not affected by this transaction, which is effective immediately.