Valeant buys eye drug for $112.5 million

MONTREAL — Valeant Pharmaceuticals International has acquired rights to a drug used to treat a symptom of age-related macular degeneration, the drug maker said.

Valeant announced that it acquired the injected drug Visudyne (verteporfin) from QLT, a company based in Vancouver, Canada.

Valeant said it paid $62.5 million upfront for all U.S. rights and available inventories for the drug, which had U.S. sales of about $21 million in 2011, and another $50 million upfront for rights to non-U.S. sales, which were about $14 million.

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