Valeant Announces Sale of iNova Pharmaceuticals for $930 Million
VALEANT PHARMACEUTICALS (VRX)
Last valeant pharmaceuticals earnings: 2/28 07:00 am
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ir.valeant.com
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Source: PR Newswire
LAVAL, Quebec, June 8, 2017 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant") today announced it has entered into an agreement to sell its iNova Pharmaceuticals ("iNova") business to a company jointly owned by funds advised and managed by Pacific Equity Partners and The Carlyle Group for $930 million in cash. "The sale of iNova is part of the company's ongoing efforts to both simplify our operating model and strengthen our balance sheet," said Joseph C. Papa, chairman and chief executive officer, Valeant. "We will continue to evaluate opportunities that will enable us to deliver on our commitments and unlock value for shareholders."iNova, which markets a diversified portfolio of prescription and over-the-counter products in several areas, such as weight management, pain management, cardiology and cough and cold, operates in more than 15 countries around the world. iNova holds leading market positions in Australia and South Africa and also
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