Here’s what you should know:
1. Valeant CEO Joseph Papa said in a release Valeant made the sale to “strengthen our balance sheet.”
2. iNova sold prescription and over-the-counter products for weight management, pain management, cardiology as well as cough and cold medicine.
3. Valeant will continue to sell in markets where iNova is present through its Bausch + Lomb franchise.
4. Valeant will use the $930 million to pay off term loan debt under its senior secured credit facility.
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