Through the acquisition Valeant is acquiring global rights to the following product ranges: Dr LeWinn's brands, a skincare line, Hissyfit, an anti-aging skincare line, and Revitanail (Renunail in the US and the UK), a line of nail strengtheners.

Valeant will pay approximately $69 million. The transaction, which is subject to customary closing conditions, is projected to close in early October 2009.

Michael Pearson, chairman and CEO of Valeant, said: "This acquisition will allow Valeant Australia to become a leading dermatology company in Australia with brands that are complementary to our current portfolio and will dramatically increase our presence in the pharmacy over-the-counter channel. We believe that Dr LeWinn's strong brand recognition and wide distribution network will provide us with a solid platform for continued growth in Australasia."