Another week, another international acquisition for Valeant Pharmaceuticals International Inc.--this time in Russia.

The Mississauga, Ontario-based drugmaker announced Monday, March 26, that it has agreed to pay about $180 million, and as much as $5 million in future milestone payments, for Russian specialty pharmaceutical company Natur Produkt International JSC. Valeant expects to close the deal by the middle of the year.

Valeant has been putting stakes in the ground in several international markets, including Russia. Just two weeks ago, Valeant acquired certain Russian assets from Austria-based generics company Gerot Lannach Holding GmbH. Valeant didn't release the price it was paying, only revealing that it would buy the assets for less than 3 times their $55 million in 2011 revenue. With Natur, it will add to its position. Valeant claimed that Natur has a significant presence in the over-the-counter market in Russia in several categories. Its branded OTC drugs include cough and cold remedy AntiGrippin, sore throat remedy Anti-Angin and nutritional supplement Terra-Plant.

Natur posted about $65 million in revenue in 2011.

Valeant chairman and CEO J. Michael Pearson noted in a statement that Russia's OTC market is "one of the fastest growth components of the Russian healthcare system."

The Natur and the Gerot assets combined will bring Valeant's pro forma revenue in Russia to about $175 million by the end of 2012, Pearson added.

Valeant's European branded generics business, which sells both branded generic drugs and OTC products primarily in Poland, Serbia, Hungary, Croatia and Russia, accounted for a total of $186.3 million in revenue in 2011, according to regulatory filings.

Since 2011, Valeant has made acquisitions in Brazil when it bought Probiotica Laboratorios Ltda. for $86.55 million and a minority stake in Pele Nova Biotecnologia SA for $10 million. In Australia it bought iNova Pharmaceuticals (Australia) Pty Ltd. for $627.1 million. In Europe it bought Sanitas Pharma AB for $443 million and PharmaSwiss SA for $481 million. Those deals are in addition to other buyouts Valeant has made in Canada and the U.S., including Afexa Life Sciences Inc. ($76.75 million), Eyetech Inc. (undisclosed) and the Ortho Dermatologics ($345 million) division of Janssen Pharmaceuticals Inc.

The buyouts varied from dermatology specialists such as Ortho to generic drugmakers such as Sanitas and PharmaSwiss, nutritional supplement provider Probiotica, ophthalmic company Eyetech and biotechs such as Pele Nova.

Valeant also launched unsuccessful hostile bids for Cephalon Inc. and Ista Pharmaceuticals Inc.

The acquisition spree has helped Valeant double its top-line numbers over the past year. Valeant's revenue climbed from $1.18 billion in 2010 to $2.46 billion in 2011. It also turned a $208.19 million net loss into $159.56 million in net income over the same span. Valeant attributed more than $300 million in its revenue increase to acquisitions it made in 2011 alone, according to regulatory filings.