Dermatology
Valeant is working to build a significant dermatology portfolio through both acquisitions and internal growth. Our dermatology products help patients who are suffering from actinic keratoses and skin cancer, acne , psoriasis and those who are looking for a reduction in the appearance of scars, skin-aging and apparent pigmentation.
2010 was a solid year in which we made several dermatology acquisitions and solidified our position in dermatology. Legacy Valeant acquired Vital Science Corp., an OTC dermatology company located in Canada; as well as several privately-owned pharmacy skin care brands in Australia and the U.S. rights to commercialize Refissa®, a prescription based topical tretinoin cream. The U.S. dermatology business continues its strong growth trajectory. Our key acne brands, Acanya and Atralin, continue to show strong year-over-year growth. In the fourth quarter of 2010, retail drug store scans for CeraVe grew almost 100% versus 2009. A new distribution initiative for CeraVe in Wal-Mart, as well as three new product launches, has enabled this growth. This success has only been possible through the support of dermatologists and dermatology nurses.
We were excited to advance our dermatology presence in the Brazilian market in 2010 through two acquisitions that brought us closer to building the critical mass we needed to accelerate success. Brazil is the ninth largest pharmaceutical market and the third largest dermatological market in the world. We also acquired a state-of-the-art manufacturing plant that has the capacity to support our future growth strategies and will allow us to close our current subscale manufacturing facility, while reducing our dependency on third party manufacturers.
In November 2008, Valeant acquired DermaTech Pty Ltd, an Australian specialty pharmaceutical company focused on dermatology products marketed throughout Australia and overseas. These products address common dermatological conditions such as dry, itchy or sensitive skin, acne, eczema, psoriasis, contact dermatitis, insect bites, skin warts and sunburn. This acquisition significantly expands Valeant's Australian specialty dermatology business and complements Valeant's current product portfolio.
In October 2008, Valeant acquired Coria Laboratories, Ltd., and expanded its dermatology product portfolio with 17 prescription and OTC products. In December 2008, Valeant also acquired Dow Pharmaceutical Sciences, Inc., a specialty pharmaceutical company that added six products to its dermatology product pipeline including a recently FDA-approved product for acne, which was launched in March 2009.