Valeant Pharmaceuticals is in advanced talks to sell its Salix stomach-drug business to Japan’s Takeda Pharmaceutical for about $10 billion, says the Wall Street Journal.
Valeant bought the North Carolina-based Salix Pharma in March 2015, for roughty $11B.
If the sale to Takeda goes through, it would enable Valeant to greatly reduce its debt load. Valeant shares jumped after media sources reported on the potential deal, rising 34%
Read the WSJ article