Valeant Pharmaceuticals, J&J deal

Valeant will acquire the Ortho Dermatologics division of Johnson & Johnson's Janssen Pharmaceuticals Inc. unit for $345 million in cash. The deal includes acne drug Retin-A Micro, foot fungus drug Ertaczo sertaconazole and skin care drug Renova tretinoin. Valeant said the portfolio had about $150 million in 2010 revenue. Valeant said the deal, which will allow it to continue to grow its dermatology franchise, is expected to be accretive to its 2011 earnings. Details were not disclosed. ...