The deal includes three prescription brands: the acne treatments Retin-A Micro and Renova and the athlete’s foot cream Ertaczo. Valeant said the product portfolio brought in about $150 million in revenue last year. The acquisition is expected to close by the end of the year.

Valeant Chairman and CEO J. Michael Pearson said in a statement dermatology remains an attractive therapeutic area for his company. Valeant, which sells the antidepressant Wellbutrin XL, also focuses on neurology.

Janssen is a company of the health care giant Johnson & Johnson.

Shares of Valeant climbed 3.3 percent, or $1.75, to $54.36 in midday trading. Shares of New Brunswick, New Jersey-based Johnson & Johnson declined 36 cents to $67.30.