Valeant Pharmaceuticals International Inc is set to acquire PreCision Dermatology Inc for $475 million in cash, according to multiple media reports,

The deal, which the latest of several acquisitions by Valeant, is set to close in the first half of 2014.

In December, Valeant agreed to buy Solta Medical for about $236 million in cash.

PreCision makes a range of medical products that treat a number of skin diseases such as acne and atopic dermatitis with such products as Locoid, Hylatopic, Clindagel, and BenzEFoam. PreCision expects to have approximately $130 million in revenue in 2014. The company will get an additional $25 million if it achieves a sales-related milestone, Valeant said.

PreCision operates in two key segments: Onset Dermatologics, which focuses on prescription therapies, and PrecisionMD®, which focuses on physician-dispensed products. The company is based in Cumberland, Rhode Island.