Valeant Pharma closed its $190 million sale of California-based Obagi Medical Products to Haitong International Zhonghua Finance Acquisition Fund I, L.P. and its affiliate Obagi Cosmeceuticals, LLC. Obagi sells cosmeceuticals (skin care products that contain ingredients that have been proven to have a positive effect) through dermatologists or medical spas, although they are OTC products. One of the partners of the Haitong fund is China Regenerative Medicine International Limited, which presumably has an interest in marketing the Obagi products in China.
Source: China Biotoday
