Dow Pharmaceutical Sciences Becomes Wholly Owned Subsidiary as A...
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`http://www.businesswire.com/news/home/20090109005091/en/Dow-Ph...
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`Dow Pharmaceutical Sciences Becomes Wholly Owned Subsidiary as Acquisition by
`Valeant Pharmaceuticals International is Completed
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`January 09, 2009 11:00 AM Eastern Standard Time
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`PETALUMA, Calif.--(BUSINESS WIRE)--Dow Pharmaceutical Sciences, the leading provider of topical formulation development services for prescription
`pharmaceutical products, announced that, effective December 31, 2008, the acquisition of Dow Pharmaceutical Sciences by Valeant Pharmaceuticals
`International has been completed. The Company will operate as a wholly owned subsidiary of Valeant and will continue to provide world-class topical product
`development services for current and new clients.
`
`The Company, formed in 1977, raised its first round of external funding in June 2005 primarily to fund the continued development of its pipeline of internal drug
`candidates. The pipeline developed complements the Company’s services business, which in 2008 had revenues of $45 million of which $20 million came from
`royalties from out-licensed products. Essex Woodland Healthcare Ventures, Galen Partners and Skyline Ventures were the investors in the Company.
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`"Since we funded, Dow has been successful in obtaining approvals for 6 NDAs, of which 5 have been licensed. This has been one of our best investments,"
`said James Currie, Managing Director of Essex Woodlands and former Chairman of Dow Pharmaceutical Sciences.
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`Deutsche Bank Securities Inc. acted as the exclusive financial advisor and Cooley Godward Kronish LLP acted as legal counsel for Dow Pharmaceutical
`Sciences in the transaction.
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`About Dow:
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`Dow currently serves clients worldwide with projects in various stages of development targeted for dermatology, ophthalmology, wound care, topical pain,
`women’s health and other therapeutic areas. Dow’s full range of services include formulation development, state-of-the-art in vitro permeation models to
`optimize formulations, full analytical support, regulatory consulting, cGMP clinical manufacturing and clinical labeling. More information about Dow
`Pharmaceutical Sciences can be found at www.dowpharmsci.com.
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`About Valeant:
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`Valeant Pharmaceuticals International (NYSE:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad
`range of pharmaceutical products primarily in the areas of neurology and dermatology. More information about Valeant can be found at www.valeant.com.
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`Contacts
`Dow Pharmaceutical Sciences
`Steven R. Smith, 707-665-4672
`Vice President, Business Development
`ssmith@dowpharmsci.com
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`ACRUX DDS PTY LTD. et al.
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`EXHIBIT 1599
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`IPR Petition for
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`U.S. Patent No. 7,214,506
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`Page 1 of 1
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