Valeant to sell its Obagi skin-care business for US$190 million to H.K. group -

Valeant to sell its Obagi skin-care business for US$190 million to H.K. group

Credit: financialpost.com

  • About: 2 months ago
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LAVAL, Que. — Valeant Pharmaceuticals International, Inc. (TSX:VRX) has a deal to sell its Obagi skin care business to a Hong Kong-based group for US$190 million in cash.

The Quebec-based company, headquartered in Laval, estimates its Obagi Medical Products unit will generate about US$85 million of revenue in 2017.

The buyer is a fund managed by a limited partnership that includes China Regenerative Medicine International and Haitong International Securities Group, both headquartered in Hong Kong.



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