Valeant to acquire OraPharma

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) will acquire specialty oral health company OraPharma Inc. from private equity firm Water Street Healthcare Partners for about $312 million, plus up to $114 million in milestones. OraPharma markets Arestin minocycline, a locally administered antibiotic, to treat periodontitis. As of March 31, OraPharma had 12-month net revenues of about $95 million. The deal is expected to close this month. Valeant, which had revenues of $2.5 billion in 2011, was off $1.02 to $44.93 on Friday. In Toronto, the stock was off C$1.14 to C$45.92. ...