Valeant Pharmaceuticals, Meda, Novartis sales and marketing update

Meda will acquire dermatology drug Elidel pimecrolimus from Novartis for $420 million in cash. The non-steroidal ascomycin derivative 1% cream is marketed to treat atopic dermatitis (eczema) in more than 90 countries, including the U.S. and countries in Europe. There will be no additional milestone payments to Novartis. The deal is expected to close this quarter. Sales of Elidel were not disclosed. ...