Morgan Stanley Reiterates Equal-Weight Rating on Valeant Pharmaceuticals International on Obagi Acquisition

In a report published Wednesday, Morgan Stanley analyst David Risinger reiterated an Equal-Weight rating on Valeant Pharmaceuticals International

. In the report, Risinger noted, “Valeant is set to acquire topical aesthetics company, Obagi, for $360M (1% of VRX EV). The proposed acquisition of Obagi Medical Products will extend Valeant's leadership in topical dermatology and aesthetics, which already includes Rx Acanya and Atralin for acne, OTC CeraVe moisturizing cream, Sculptra for lost collagen, and Dysport and Restylane for wrinkles.” Valeant Pharmaceuticals International closed on Tuesday at $71.44.