AB Sanitas acquired by Valeant Pharma

Valeant Pharmaceuticals Inc. announced that it has completed the purchase of the Lithuanian specialty pharmaceutical company AB Sanitas.

In a two-stage deal amounting to $441 million, the Canadian drugmaker had decided to buy out Sanitas in May. Kaunas-based AB Sanitas markets nearly 390 generics in Poland, Russia, Lithuania, and six other countries in Central and Eastern Europe.

The company is expected to report revenues of $140 million for 2011.
In morning trading, Valeant shares jumped 12 cents to $39.53.