Feb 27 (Reuters) - Valeant VRX.TO :
* ANNOUNCES LICENSING AGREEMENT WITH KAKEN PHARMACEUTICAL CO., LTD. TO DEVELOP AND COMMERCIALIZE NEW CHEMICAL ENTITY FOR PSORIASIS
* UNDER TERMS OF LICENSING AGREEMENT, KAKEN GRANTED TO CO EXCLUSIVE LICENSE TO DEVELOP AND COMMERCIALIZE TOPICAL PRODUCTS CONTAINING KP-470
* WILL HAVE RIGHTS TO DEVELOP AND COMMERCIALIZE PRODUCTS WITH KP-470 IN UNITED STATES, CANADA, AND WESTERN AND EASTERN EUROPE
* KAKEN TO RECEIVE UPFRONT CASH PAYMENT AND HAS POTENTIAL TO RECEIVE CERTAIN DEVELOPMENT-BASED MILESTONE PAYMENTS
* ADDITIONALLY, KAKEN WILL RECEIVE ROYALTIES ON VALEANT'S NET SALES OF PRODUCTS