Jan
10
Valeant Sells $2.1 Billion in Assets to Ease Debt Burden
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L’Oreal will pay $1.3 billion to gain three skin-care brands
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China’s Sanpower to buy Dendreon cancer unit for $820 million
Valeant Pharmaceuticals International Inc. agreed to sell about $2.1 billion in assets in two deals, an important first step in the struggling drugmaker’s endeavor to get cash and begin easing its debt burden.
L’Oreal SA, the Paris-based cosmetic giant, will pay Valeant $1.3 billion for three skin-care brands, according to a statement Tuesday. Valeant will also sell its Dendreon Pharmaceuticals unit to closely held Chinese conglomerate Sanpower Group Co. for about $820 million. Valeant’s shares and bonds jumped after the news…
Valeant Sells $2.1 Billion in Assets to Ease Debt Burden
