Valeant Receives FTC Clearance For Medicis Acquisition

The US Federal Trade Commission (FTC) granted early termination of the waiting period surrounding the proposed acquisition of Medicis Pharmaceutical Corporation by Valeant Pharmaceuticals International, Inc., effective November 15, 2012. The proposed merger remains subject to other customary closing conditions, including the approval of Medicis' stockholders at a meeting scheduled for December 7, 2012. Once all closing conditions are satisfied, the company expects to close the merger within four business days.