Pacific Equity Partners and The Carlyle Group have completed previously announced acquisition of the iNova Pharmaceuticals business from Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) for US $930 million.
iNova markets a diversified portfolio of prescription and OTC products in areas such as weight management, pain management, cardiology and cough and cold and operates in more than 15 countries around the world. iNova holds leading market positions in Australia and South Africa and also has an established platform in Asia.
In December 2011, Valeant Pharmaceuticals acquired iNova from Archer Capital, Ironbridge Capital and other minority management shareholders for US $716.6 million.
Goldman, Sachs & Co. served as financial advisor to Valeant, and Baker McKenzie acted as legal advisor to Valeant.
Pacific Equity Partners and The Carlyle Group have been advised by Gilbert + Tobin, Allier Capital, Credit Suisse, Bank of America Merrill Lynch, UBS and Macquarie Bank.
photo credit: iNova Pharmaceuticals