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In Brief

Valeant acquires iNova, closes Afexa deal; CRN says FDA’s proposed rule on gifts “goes too far”; Kentucky bill would strengthen PSE limits; and more OTC drug and nutritional product market news In Brief

Valeant Pharmaceuticals International Inc. will acquire OTC and pharmaceutical firm iNova Pharmaceuticals Pty. Ltd. for $625 million Australian ($615 million U.S.) upfront. iNova markets OTCs in Australia, New Zealand, Southeast Asia and South Africa. Its portfolio includes cold and flu remedies Difflam and Duro Tuss. Valeant could pay up to an additional $73.9 million for iNova depending on the success of iNova’s Rx pipeline. The deal “transforms our operations in the Australian market” and provides “a beachhead in both Southeast Asia and South Africa,” Valeant CEO J. Michael Pearson said in a Nov. 20 release.

Mississauga, Ontario-based Valeant Nov. 16 said it will cut staff and review alternatives for its research and development unit as...

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