February 1, 2012 / 2:18 PM / in 6 years

UPDATE 1-Valeant buys Brazil's Probiotica for $85 mln

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Feb 1 (Reuters) - Valeant Pharmaceuticals International Inc said it has bought Brazil’s Probiotica Laboratorios Ltd for 150 million Brazilian Real ($85.69 million) to boost its presence in the sports food supplement market.

Sao Paulo-based Probiotica, which makes and markets over-the-counter sports nutrition products and other food supplements, reported revenue of 80 million Brazilian Real ($45.70 million) in 2011.

Valeant said it expects the deal to add to earnings immediately.

Shares of Valeant, which have gained about a quarter of their value in the past three months, closed at C$48.56 on Tuesday on the Toronto Stock Exchange. (Reporting by Maneesha Tiwari in Bangalore; Editing by Hezron Selvi)

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