Valeant Pharmaceuticals International Inc trades in the stock market as ticker BVF. Business Summary & Profile For Valeant Pharmaceuticals International Inc.

Valeant Pharmaceuticals International Inc

Valeant Pharmaceuticals International, Inc., a specialty pharmaceutical company, develops, manufactures, and markets pharmaceutical products in the areas of neurology, dermatology, and branded generics. Its product portfolio comprises approximately 490 products. The company offers Wellbutrin XL for the treatment of depressive disorder in adults; Xenazine for the treatment of chorea associated with Huntington’s disease; CeraVe, which is used to rebuild and repair the skin barrier; and Kinerase, a cosmetic product. Its dermatology products include Zovirax ointment for the management of initial genital herpes and the treatment of recurrent herpes labialis (cold sores) in adults and adolescents; Acanya gel for the treatment of acne vulgaris in patients 12 years and older; and Atralin gel, an aqueous gel containing tretinoin for acne vulgaris in patients 10 years and older. The company also provides Tiazac XC to treat hypertension and angina; Cesamet to manage severe nausea and vomiting associated with cancer chemotherapy; Bisocard, a beta-blocker to treat hypertension and angina pectoris; Syncumar to treat and prevent thromboembolic diseases; and Sinupret, an herbal supplement, as well as various branded generics covering a range of treatments, including antibiotics, treatments for cardiovascular diseases, antifungal medications, and diabetic therapies. In addition, it offers Bedoyecta for treating neurotic pain and neuropathy; M.V.I., a hospital dietary supplement used for treating trauma and burns; and products covering a range of therapeutic classes, including vitamin deficiency, antibacterials, and dermatology. It markets its products in the United States, Canada, Australia, New Zealand, Europe, and Latin America. The company was formerly known as Biovail Corporation and changed its name to Valeant Pharmaceuticals International, Inc. in September 2010. The company was founded in 1960 and is headquartered in Mississauga, Canada.
www.valeant.com
4,300 Employees
Last Reported Date: 02/28/11
Founded in 1960
LAST $26.35 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
As of 4:30 PM 09/27/11 All times are local (Market data is delayed by at least 15 minutes).

Snapshot of Valeant Pharmaceuticals International Inc (BVF)

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Key developments for Valeant Pharmaceuticals International Inc (BVF)

Valeant Pharmaceuticals International, Inc. Enters into the Third Amended and Restated Credit and Guaranty Agreement

On February 13, 2012, Valeant Pharmaceuticals International, Inc. entered into the third amended and restated credit and guaranty agreement with certain subsidiaries of Valeant, as Guarantors, each of the lenders named therein, J.P. Morgan Securities LLC, Goldman Sachs Lending Partners LLC and Morgan Stanley Senior Funding, Inc.(Morgan Stanley), as Joint Lead Arrangers and Joint Bookrunners, JPMorgan Chase Bank, N.A. and Morgan Stanley, as Co-Syndication Agents, JPMorgan, as Issuing Bank, GSLP, as Administrative Agent and Collateral Agent, and the other agents party thereto. The credit agreement amends and restates the terms of an amended and restated credit agreement entered into by Valeant on October 20, 2011, which provided for a $275 million revolving credit facility, including a sublimit for the issuance of standby and commercial letters of credit and a sublimit for swing line loans (the Revolving Credit Facility), and a $1.725 billion senior secured term loan A facility, which included a $500 million delayed draw term loan facility, and which was supplemented by the Joinder Agreement entered into by Valeant on December 19, 2011 that further increased the size of the Term Loan a Facility to $2.225 billion. The credit agreement provides for an additional $600 million senior secured term loan B facility (the Term Loan B Facility and, together with the Term Loan A Facility, the Term Loan Facilities; the term loan facilities together with the revolving credit facility, the credit facilities). Valeant used a portion of the proceeds of its initial draw under the Term Loan B Facility to fund repayment of certain outstanding amounts under the Revolving Credit Facility and will use the balance of the proceeds for general corporate purposes, including acquisitions. The loans under the Credit Facilities may be made to, and the letters of credit under the Revolving Credit Facility may be issued on behalf of, Valeant. All borrowings under the Credit Facilities are subject to the satisfaction of customary conditions, including the absence of a default or an event of default and the accuracy in all material respects of representations and warranties. Borrowings under the Credit Facilities bear interest at a rate per annum equal to, at Valeant's option, either (a) a base rate determined by reference to the higher of (1) the rate of interest quoted in the print edition of The Wall Street Journal, Money Rates Section, as the Prime Rate (currently defined as the base rate on corporate loans posted by at least 75% of the nation's thirty largest banks) and (2) the federal funds effective rate plus 1/2 of 1% or (b) a LIBO rate determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs, in each case plus an applicable margin. The initial applicable margin for borrowings under the credit facilities is 1.75% with respect to base rate borrowings and 2.75% with respect to LIBO rate borrowings. Interest rates for the revolving credit facility and the term loan A facility are subject to increase or decrease quarterly based on leverage ratios. The Revolving Credit Facility matures on April 20, 2016 and does not amortize. The Term Loan A Facility matures on April 20, 2016 and amortizes quarterly commencing March 31, 2012 at an initial annual rate of 5.0%. The amortization schedule under the Term Loan a Facility will increase to 10.0% annually commencing March 31, 2013 and 20% annually commencing March 31, 2014, payable in quarterly installments. The Term Loan B Facility matures on February 13, 2019 and amortizes quarterly commencing June 30, 2012 at an annual rate of 1.0%.

Valeant Pharmaceuticals International, Inc. Completes Syndication of Senior Secured Term Loan B Facility

Valeant Pharmaceuticals International, Inc. announced the successful syndication of a $600 million senior secured Tranche B Term Loan facility under its existing senior secured credit facilities to fund repayment of certain outstanding amounts under its existing revolving facility and for general corporate purposes, including acquisitions. The Tranche B Term Loans will mature in 2019 and have terms that are customary for this type of financing. The Tranche B Term Loans bear interest at a rate per annum equal to, at Valeant's option, a base rate or a LIBO rate plus an applicable margin. The initial interest rate for the Tranche B Term Loans is the LIBO rate plus 2.75% per annum. The facility closed on February 13, 2012.

Valeant Mulls Acquisitions

Valeant Pharmaceuticals International, Inc. is seeking acquisitions. "The ophthalmology market has similar characteristics to the dermatology space and is a natural extension of our development capabilities. We will continue to look for future opportunities to acquire additional products and gain important critical mass in this specialty space," stated J. Michael Pearson, Chairman and Chief Executive Officer.

BVF Competitors

Company Last Change
Elan Corp PLC €9.57 EUR -0.324
Endo Pharmaceuticals Holdings Inc $35.25 USD -0.63
Perrigo Co $94.90 USD +0.38
Ranbaxy Laboratories Ltd 448.60 INR -1.65
Vertex Pharmaceuticals Inc $39.24 USD +1.75
Market data is delayed at least 15 minutes.
 

Industry Analysis

Valuation BVF Industry Range
Price/Earnings 100.0x
Price/Sales 6.3x
Price/Book 3.6x
Price/Cash Flow 25.4x
TEV/Sales 3.8x

BVF

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BVF transactions

Type
Date
Target
Merger/Acquisition
February 13, 2012
Oldtech, Inc.
Merger/Acquisition
February 6, 2012
Valeant Pharmaceuticals International, Inc., Two Dermatological Products
Merger/Acquisition
February 1, 2012
Probitica Laboratrios Ltda.
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