Here’s what you should know.
1. Valeant is selling its Dendreon immunotherapy prostate cancer business to China-based Sanpower Group for $819.9 million.
2. Additionally, Valeant is selling its CeraVe, AMBI Skincare and AcneFree skincare brands to Île-de-France-based L’Oreal for $1.3 billion.
The three product lines yielded an annual revenue of $168 million for Valeant.
3. Valeant expects to close on both transactions in early 2017.
4. The sales’ proceeds will pay back some of Valeant’s term loan debt.
More articles on gastroenterology/endoscopy:
GI leader to know: Dr. Bitman Stewart of Digestive Care
Integrated Endoscopy seeks $4.4M for executive compensation: 3 key notes
Hallmark Health Medical Associates names gastroenterologist Dr. Michael Newman president: 3 key notes
