Valeant Pharmaceuticals International sells dermatology products rights to Galderma/Nestle

Valeant Pharmaceuticals International, Inc. announced that it has entered into an agreement with Nestle S.A. to sell all North American rights to Restylane, Perlane, Emervel, Sculptra, and Dysport owned or held by Valeant for $1.4 billion in cash. Nestle expects to complete its acquisition of Galderma S.A. in July 2014 and would expect to operate the acquired assets through Galderma. The transaction is subject to customary closing conditions, including clearance or early expiration of the waiting period under the Hart-Scott-Rodino (HSR) Act and is not contingent upon a successful acquisition of Allergan, Inc.