Valeant Pharmaceuticals International has entered an agreement through certain affiliates to divest its Obagi Medical Products business to Haitong International Zhonghua Finance Acquisition Fund for $190m.

The proceeds from the sale will be used by the company to permanently repay term loan debt under its Senior Secured Credit Facility.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Valeant Pharmaceuticals International chairman and CEO Joseph Papa said: “The sale of Obagi marks additional progress in our efforts to streamline our operations and reduce debt.

“As we continue to transform Valeant, we will remain focused on the core businesses that will drive high value for our shareholders.”

Established in 1988, Obagi Medical Products is a global speciality pharmaceutical company founded by leading skincare experts.

"As we continue to transform Valeant, we will remain focused on the core businesses that will drive high value for our shareholders."

The products of the Obagi business are designed specifically to help reduce the appearance of premature skin aging, skin damage, hyperpigmentation, acne and sun damage.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The medical products are primarily available to people through dermatologists, plastic surgeons, medical spas and other skincare professionals.

Subject to customary closing conditions, including receipt of applicable regulatory approvals, the transaction is expected to conclude in the second half of this year.

During the current transaction, Morgan Stanley & Co. served as financial advisor to Valeant Pharmaceuticals, while Norton Rose Fulbright functioned as the legal advisor.

Valeant Pharmaceuticals International is a multinational speciality pharmaceutical company that develops, manufactures and commercialises a large variety of pharmaceutical products, mainly in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics.