"The sale of Obagi marks additional progress in our efforts to streamline our operations and reduce debt," Joseph C. Papa, chairman and CEO, Valeant. "As we continue to transform Valeant, we will remain focused on the core businesses that will drive high value for our shareholders."
Obagi Medical Products is a global specialty pharmaceutical company founded by leading skin care experts in 1988. Obagi products are designed to help minimize the appearance of premature skin aging, skin damage, hyperpigmentation, acne and sun damage and are primarily available through dermatologists, plastic surgeons, medical spas and other skin care professionals.
Valeant will use proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility. The transaction is expected to close in the second half of 2017, subject to customary closing conditions, including receipt of applicable regulatory approvals.
The company currently estimates that the full-year 2017 revenue and Adjusted EBITDA (non-GAAP) for the Obagi business would have been approximately $85 million and $30 million, respectively.
Morgan Stanley & Co. LLC served as financial advisor to Valeant, and Norton Rose Fulbright acted as legal advisor to Valeant.
China Regenerative Medicine International Limited is engaged in the research, development and commercialization of innovative bio-medical, healthcare products and medical techniques.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics.
"The sale of Obagi marks additional progress in our efforts to streamline our operations and reduce debt," Joseph C. Papa, chairman and CEO, Valeant. "As we continue to transform Valeant, we will remain focused on the core businesses that will drive high value for our shareholders."
Obagi Medical Products is a global specialty pharmaceutical company founded by leading skin care experts in 1988. Obagi products are designed to help minimize the appearance of premature skin aging, skin damage, hyperpigmentation, acne and sun damage and are primarily available through dermatologists, plastic surgeons, medical spas and other skin care professionals.
Valeant will use proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility. The transaction is expected to close in the second half of 2017, subject to customary closing conditions, including receipt of applicable regulatory approvals.
The company currently estimates that the full-year 2017 revenue and Adjusted EBITDA (non-GAAP) for the Obagi business would have been approximately $85 million and $30 million, respectively.
Morgan Stanley & Co. LLC served as financial advisor to Valeant, and Norton Rose Fulbright acted as legal advisor to Valeant.
China Regenerative Medicine International Limited is engaged in the research, development and commercialization of innovative bio-medical, healthcare products and medical techniques.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics.
Valeant pharma, sell obagi medical products business
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