Valeant Pharmaceuticals International Inc to sell Filler And Toxin assets to Nestle

Wednesday, 28 May 2014 01:15am EDT 

Valeant Pharmaceuticals International Inc:Agreement to sell all rights to Restylane, Perlane, Emervel, Sculptra, and Dysport owned or held by Valeant for $1.4 bln in cash.Nestle expects to complete acquisition of Galderma S.A. in July and would expect to operate acquired assets through Galderma.Transaction is subject to customary closing conditions, including clearance or early expiration of waiting period under Hart-Scott-Rodino (HSR) Act and is not contingent upon successful transaction with Allergan, Inc.Transaction is extremely attractive both to Valeant and Galderma, and dovetails well with our announced plans for a transaction with Allergan.