Deutsche Bank Maintains Buy on Valeant Pharmaceuticals

Deutsche Bank is out with its report today on Valeant Pharmaceuticals VRX, maintaining Buy after Valeant agreed to acquire Dermix. In a note to clients, Deutsche Bank writes, "Given the company's presence in dermatology in both the US and Canada, this appears to be a solid addition to Valeant's existing franchise and likely presents a good opportunity to extract significant cost synergies from Dermik's existing operations." Shares of VRX closed Friday at $53.34, down 0.34% from Thursday's close.