(Reuters) - Acquisition-hungry Valeant Pharmaceuticals International Inc VRX.TO VRX.N said it agreed to buy Russian pharma company Natur Produkt International, JSC for about $180 million to tap into the over-the-counter (OTC) market in the country.
The deal also includes an additional $5 million in potential future milestones and is expected to close by mid-year 2012, Valeant said in a statement.
Natur Produkt, which was founded in 1993, owns brands such as AntiGrippin cough and cold remedy and Anti Angin, Sage and Eucaplyptus MA sore throat treatments.
Earlier this month, Valeant bought some assets of Austrian pharmaceutical company Gerot Lannach, and in February, said it had agreed to buy Eyetech Inc and Brazil’s Probiotica Laboratorios Ltd.
Valeant expects the transaction to immediately add to its earnings.
Shares of Valeant, which have risen by more 36 percent in the last six months, were trading up 69 Canadian cents at C$54.39 on Monday on the Toronto Stock Exchange.
Reporting by Shounak Dasgupta in Bangalore; Editing by Sreejiraj Eluvangal