Serial acquirer Valeant Pharmaceuticals International has unveiled plans for a $180 million acquisition of Russian specialty pharmaceuticals firm Natur Produkt International.

The latter is best known for its over-the-counter treatments, notably cough and cold remedies, as well as sore throat medicines. Revenues reached $65 million last year and that figure is expected to grow by double digits in 2012.

Valeant, which noted that the price could rise by an additional $5 million on the achievement of potential future milestones, said the purchase will be immediately accretive to earnings. Chief executive Michael Pearson said "we are pleased to add a leading consumer franchise to our growing operations in Russia", adding that "not only is the OTC market very attractive [there] due to the self-pay element, but it is also one of the fastest-growth components of the Russian healthcare system".

The deal comes a fortnight after Valeant acquired certain assets from Gerot Lannach, a branded generics company based in Austria. Approximately 90% of sales relating to these assets are in Russia, and the largest product is a low-dose aspirin; total turnover for these products in 2011 was $55 million and Valeant is buying them for less than three times sales, plus potentially an extra $20 million in prospective milestone payments.

Mr Pearson said the addition of Natur Produkt, a "high-growth operation", along with the Canadian firm's Gerot Lannach deal, will bring revenues in Russia to $175 million by the end of 2012.

Earlier this month, Valeant bought a 19.9% stake in Brazil's Pele Nova Biotecnologia, which focuses on tissue regeneration, for less than $10 million, a couple of months after buying Brazilian supplements maker Probiotica for $55 million. In February, Valeant acquired the US ophthalmic firm Eyetech.