Valeant to sell assets for $2.12 bln to ease debt load: Reuters
Valeant Pharmaceuticals International Inc is selling its Dendreon cancer treatment business and three skincare brands for US$2.12 billion as the troubled Canadian drugmaker looks to reduce more than US$30 billion in debt, Reuters reported. The company is trying to regain investor confidence after its stock plunged over the past year amid disclosures that it worked secretly with a specialty pharmacy to boost sales of its medicines. Valeant's major shareholders include U.S. hedge funds, such as William Ackman's Pershing Square Capital Management.
11 January 2017•2 mins read
