Valeant Pharmaceuticals (NYSE:VRX) inks a $2.6-billion cash agreement with Galderma

Valeant Pharmaceuticals International Inc. (NYSE:VRX) entered into an agreement with Galderma S.A. and brought to an end a lawsuit concerning its acquiring of Medicis Pharmaceutical Corp.

The company revealed its plan of acquiring Medicis Pharmaceutical Corp for cash in September; that deal had worth $2.6 billion. Medicis Pharmaceutical Corp is specialized in dermatology.

Yesterday both the companies decided that Galderma will keep on supplying Restylane and Perlane under the same terms and conditions as it presently supplies Medicis Pharmaceutical Corp.

Pursuant to the deal, VRX will also make an open payment and a royalty to Galderma on sales of Sculptra and acquire North American rights to Emervel, which is used to reduce wrinkles.

At the close of the trading day, Valeant Pharmaceuticals Intl Inc (NYSE:VRX) shares rose +1.42% to settle at $57.71. Intraday trading was between $56.78 – $58.28.  In the past year, the stock has traded within a range of $42.47 – $61.11. The last session’s volume of 2.52 million shares was up from the average daily trading volume of 1.42 million shares.

Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY) shares were up +0.06% to close at $33.59. The stock traded between $33.51 – $33.80 during the last trading session.  In the last 12 months the shares have traded between $27.28 and $35.16. The last session’s volume of 140,368 shares was a bit lower than their average daily trading volume of 207,558 shares.

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) shares in the last session were up +0.10% closing at $41.48. The stock traded in a range of $41.08 – $41.91.  In the last year the stock has moved within a range of $37.40 – $46.65. The last session’s volume of 5.07 million shares was up from their average daily trading volume of 3.52 million shares.

Another rival company Watson Pharmaceuticals, Inc. (NYSE:WPI), traded down -0.26% moving to $88.07. Intraday trading recorded the stock price in a range between $87.15 – $88.74.  In the previous 52 weeks the price has traded between $55.00 – $90.00. The last session’s volume of 840,657 shares was up from their average daily trading volume of 788,877 shares.