FTC approves Valeant buy with asset sales

WASHINGTON Mon Dec 12, 2011 1:05pm EST

WASHINGTON (Reuters) - Antitrust regulators approved Valeant Pharmaceutical's (VRX.TO) acquisition of the dermatology units of Sanofi and Johnson & Johnson, on the condition that it sell the rights to three prescription drugs, the Federal Trade Commission said on Monday.

Valeant is in the process of acquiring Ortho Dermatologics, Inc. from Johnson & Johnson (JNJ.N), and Dermik Laboratories, Inc. from Sanofi Aventis SASY.PA..

(Reporting by Diane Bartz; Editing by Derek Caney)