Valeant to sell Obagi Medical Products business for $190 mln: Reuters
Valeant Pharmaceuticals International Inc said it would sell its Obagi Medical Products business for US$190 million in cash, as part of the Canadian drugmaker's efforts to cut down its debt, Reuters reported. Valeant, which bought the Irvine, California-based Obagi for about US$344 million in 2013, will sell the business to Haitong International Zhonghua Finance Acquisition Fund I LP. The Obagi Medical Products unit includes skin-care products designed to help minimize the appearance of premature skin aging, skin damage and hyperpigmentation. The deal is expected to close in the second half.
17 July 2017•1 min read
