Janssen Pharmaceuticals, Inc. announces definitive agreement to divest Ortho Dermatologics Division

Janssen Pharmaceuticals, Inc. today announced a definitive agreement to divest the assets of its Ortho Dermatologics division in the U.S. to subsidiaries of Valeant Pharmaceuticals International, Inc. for approximately $345 million in cash. The divestiture of Ortho Dermatologics’ assets includes prescription brands (RETIN-A MICRO®, ERTACZO® and RENOVA®) sold in the U.S.

The transaction is expected to close by year-end, subject to customary closing conditions.