Sonoma County Biotech Firm Sold For $285 Million

PETALUMA, Calif. (AP) - A Sonoma County biotech firm has been sold to a Southern California pharmaceutical company for $285 million.

In announcing Thursday it was buying Dow Pharmaceutical Sciences, Alisio Viejo-based Valeant Pharmaceuticals International says it will keep the 31-year-old company in Petaluma.

Dow Pharmaceutical develops drugs for skin diseases. It employs 159 workers including those at its headquarters in Petaluma, locations in Vallejo and Redwood, as well as research facilities in Germany.

Valeant makes prescription and over-the-counter pharmaceuticals for dermatology and neurology. It employs about 2,200 people.

The deal is expected to close by the end of this month.

Information from: The Press Democrat,

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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