MISSISSAUGA, Ontario — The Federal Trade Commission has voted to approve Valeant's acquisitions of Dermik, a unit of French drug maker Sanofi that makes drugs for skin conditions, and Ortho Dermatologics, a division of Johnson & Johnson that also makes skin drugs.

At the same time, the FTC is requiring Valeant to dissolve its collaboration with Spear Pharmaceuticals related to the wrinkle and pigmentation disorder drug Refissa (tretinoin) and generic emollient cream, and divest its generic version of Sanofi's acne drug BenzaClin (clindamycin and benzoyl peroxide gel) and its authorized generic version of its own actinic and solar keratosis drug, Efudex (fluorouracil cream).

The company said it expected to complete its acquisition of Ortho Dermatologics on Monday and of Dermik by the end of the year.