China Regenerative Medicine International (CRMI) has acquired Obagi Medical Products from Valeant Pharmaceuticals for $190 million in cash. CRMI, which operates seven production plants in mainland China and Hong Kong, specializes in the research, development and commercialization of innovative bio-medical, healthcare products and medical techniques. In a press release, the company noted that this acquisition will help pave the way for future development of its cosmeceutical business in both the U.S. and international markets. The Obagi Medical organization will continue to operate from its current headquarters in Southern California.
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