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.
Category: Valeant Pharmaceuticals International
Valeant to Sell $2.1 Billion in Assets to Pay Down Debt
Valeant Pharmaceuticals International Inc. agreed to sell about $2.1 billion in assets as the embattled Canadian drugmaker seeks to streamline its businesses and ease its debt burden. L’Oreal SA will pay Valeant $1.3 billion for three skincare brands, the Paris-based company Tuesday said in a statement.