LAVAL, Quebec and PITTSBURGH, Pa., Feb. 23, 2017 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc.'s (NYSE: VRX and TSX: VRX) ("Valeant" or the "Company") wholly owned subsidiary Obagi Medical Products, a long-time leader in professional skin care, today announced a collaboration with Nextcell Medical Company to claim exclusive distribution of Suzan Obagi, M.D.'s line of skin care products throughout the United States.
Established in 2013 with renowned cosmetic surgeon and dermatologist, Suzan Obagi, M.D., Nextcell Medical has been diligently working on new innovations that will change the industry's approach to skin care. In their strategic relationship, Obagi and Nextcell have joined forces to introduce a next generation line of clinical skin care products. Obagi intends to continue to invest in Nextcell's research and development efforts.
"I am so excited to finally unveil my line alongside the Obagi® line of products," said Suzan Obagi, M.D. "We have been working long and hard on designing a new concept of skin care for the modern patient. With our visions aligned, I can't think of a better company than Obagi to introduce our products."
"The relationship between Obagi and Nextcell is a forward move for this important brand," said Joseph C. Papa, Chairman and CEO of Valeant. "Dr. Suzan Obagi brings extensive academic and clinical experience to the rich history of Obagi."
"We are thrilled to have the opportunity to work with Obagi and continue to build on the brand's already strong reputation and unsurpassed brand recognition," stated Mazen F. Youssef, President and CEO of Nextcell. "We are confident our collaboration will accelerate the growth of both companies and complete Obagi's portfolio with Dr. Obagi's novel innovations."
The U.S. launch of Suzan Obagi, M.D.'s line for Obagi is anticipated for mid-year of 2017.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics. More information about Valeant can be found at www.valeant.com.
About Obagi Medical Products, Inc.
Obagi Medical Products is a global specialty pharmaceutical company founded by leading skin care experts in 1988, and is now a division of Valeant Pharmaceuticals North America LLC. Obagi products are designed to help minimize the appearance of premature skin aging, skin damage, hyperpigmentation, acne, and sun damage and are primarily available through dermatologists, plastic surgeons, medical spas, and other skin care professionals. www.obagi.com
About Nextcell Medical Company
Nextcell was established in 2013, specializing in the research and development of clinical skin care products. Under the scientific and medical leadership of Suzan Obagi, M.D., the company aimed to develop a skin care line that met the demands of the modern patient. Each product created by Dr. Suzan Obagi and Nextcell is formulated according to a strict set of standards. Every ingredient in each product is carefully evaluated and has a decided function and purpose in the product formulation. From product ideation to final production, Nextcell takes great care in seeing that each product is supported by scientific research. Nextcell Medical is headquartered in Pittsburgh, Pennsylvania, USA, www.nextcellmedical.com.
About Suzan Obagi, M.D.
Suzan Obagi, M.D. is an associate professor of dermatology and plastic surgery at the University of Pittsburgh Medical Center (UPMC) and serves as the director of the state-of-the-art UPMC Cosmetic Surgery and Skin Health Center. Dr. Obagi's academic commitments include clinical research, training residents in dermatologic surgery & cosmetic dermatologic surgery, and in her role as the director of the cosmetic dermatologic surgery fellowship. Dr. Obagi has worked on various committees with the American Society for Dermatologic Surgery, is the Secretary of the Board of the American Academy of Cosmetic Surgery, has formerly served as vice president of the American Board of Cosmetic Surgery, and is a past president of the Cosmetic Surgery Foundation. In addition, Dr. Obagi trains physicians from around the world on the latest in cosmetic and laser surgery.
This press release contains forward-looking statements which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. Examples of such forward-looking statements include, but are not limited to, the industry's approach to skin care, investments in future research and development efforts, and the expected growth of Obagi Medical Products and Nextcell Medical. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company's most recent annual or quarterly report and detailed from time to time in Valeant's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, unless required by law.
Renée Soto Or
Chris Kittredge/Jared Levy
Director, Product Development
Sard Verbinnen & Co.
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SOURCE Valeant Pharmaceuticals International, Inc.