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The company announced on 12 March that it paid less than $10 million for a 19.9 percent minority equity interest in Pele Nova Biotecnologia SA, a Brazilian firm focused on tissue regeneration. Through that acquisition, Valeant gained rights to future Pele Nova products in Brazil, first right of refusal for all other global products, and a reduced royalty rate for Regederm, a biologic wound product that will be launched in Brazil in April.

On 1 February, Valeant said it would pay R$150 million for Probiotica Laboratories Ltda., a Brazilian sports nutrition and food supplements company. Probiotica had a 30 percent share of its market in Brazil with annual revenue of R$80 million in 2011.

Valeant reported on 27 February that its 2011 revenue totaled $2.5 billion, more than doubling its $1.2 billion revenue in 2010. The company went from a net loss of $208.2 million in 2010 to $159.6 million in net income in 2011.

"Our performance continues to demonstrate the strength of our diversified model and our capacity to integrate acquisitions and still deliver strong top-line and bottom-line results," Mr Pearson said when announcing Valeant's year-end financial results.

Valeant continues Russian spending spree with $180m Natur Produkt buy

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