Pelenova, Valeant Pharmaceuticals deal

Valeant acquired a 19.9% minority stake in Pelenova, a Brazilian tissue regeneration company, for less than $10 million in cash. Valeant received rights to all future Pelenova products in Brazil as well as the right of first refusal to acquire worldwide rights to future products. Valeant will have representation on Pelenova's board and will also be eligible for reduced royalties for wound care biologic Regederm, which was recently approved in Brazil and is expected to launch in April. Details were not disclosed. ...