Dallas, Texas 11/20/2013 (Financialstrend) – Earlier this week, Valeant (TSX:VRX) announced that it has now agreed to pay $142.5M to settle all the outstanding disputes with the California-based Anacor Pharmaceuticals that had impacted earnings. This payment includes the earlier- announced $100M arbitration-award to Anacor (Nasdaq:ANAC), that is related to the breach of services that were provided by Dow Pharmaceutical Sciences before it was bought by Valeant. Anacor said that the settlement also resolves the company’s ongoing dispute with Medicis Pharmaceutical Corp (NYSE:MRX) which Valeant bought in 2012 December.
About the company
Medicis Pharmaceutical Corp (NYSE:MRX is a front-running independent- specialty pharma company in the U.S that focuses mainly on treatment of the dermatological & aesthetic conditions. The company is dedicated to assisting patients attain healthy & youthful appearance &self-image. Since its inception in 1988, the company has introduced over 30 different products and formulations. This makes Medicis Pharmaceutical Corp (NYSE:MRX) a prolific source of various new products in the specific specialties that the company serves. Today, the company has leading branded prescription-products in numerous dermatological & aesthetic categories. Medicis Pharmaceutical Corp (NYSE:MRX)’s products have earned wide-acceptance with physicians and patients because of their clinical effectiveness, high -quality & cosmetic elegance.
Medicis Pharmaceutical Corp (NYSE:MRX) provides award-winning-support to its physician-customers since they care for patients and also build their practices. The company does this via new product-development, the growth of its existing brands, strategic-acquisitions & collaborative relationships.
The company’s goal is to maintain its strong leadership-position in customer-focus, in dermatology & aesthetics, & other specialty-fields that it enters. Valeant Pharmaceuticals acquired Medicis Pharmaceutical Corp (NYSE:MRX) post approval of the transaction by the stockholders of the latter at the special-meeting that was held on 7th December 2012. Valeant bought all the common-stock outstanding of Medicis Pharmaceutical Corp (NYSE:MRX) at the time of completion of this acquisition for $44.00 / share in cash.