Mylan Inc. said Monday it bought two generic dermatology products from Canadian drugmaker Valeant Pharmaceuticals International Inc.
Mylan said it acquired the rights to generic versions of Valeant's topical acne treatment BenzaClin and Efudex, a treatment for actinic keratosis, which is a type of precancerous skin lesion. Mylan already made the generic version of BenzaClin through a licensing agreement, and the deal gives it the right to make and sell an authorized generic version of Efudex as well. The companies did not disclose terms of the deal.
Valeant was required to sell the drugs as part of its deal to buy Dermik, the dermatology division of French drugmaker Sanofi. Mylan said sales of BenzaClin as an acne treatment totaled $205 million in 2011, while sales of Efudex totaled $79 million.
Shares of Mylan lost 19 cents to $22.25 in afternoon trading, while Valeant stock picked up 14 cents to $50.64.
