Valeant to Acquire Leading Egyptian Pharma Firm

Valeant Pharmaceuticals has entered into an agreement to acquire Mercury (Cayman) Holdings, the holding company of Egypt's Amoun Pharmaceutical, for approximately US$800 million, plus contingent payments.

Amoun Pharmaceutical is the largest domestic company in the Egyptian pharmaceutical market with annual growth of approximately 20%. The company operates one of the largest and most up-to-date pharmaceutical facilities in Africa and the Middle East. It produces market-leading pharmaceutical brands in the anti-hypertensive, broad spectrum antibiotic and anti-diarrheal areas.