Cash-Strapped Valeant May Sell Salix to Takeda

Nov. 2, 2016

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