Valeant Considers Asset Sale to Combat Debt

Source: Bloomberg

May 19, 2016

Currently $30 billion in debt, Valeant Pharmaceuticals is exploring the sale of some of its smaller cosmetic and pharmaceutical assets, says Bloomberg sources.

Sources say Obagi Medical Products, a struggling dermatology company Valeant acquired in 2013, as well as Provenge, a prostate-cancer vaccine purchased last year from Dendreon, and drugs acquired from Marathon Pharmaceuticals are all on the chopping block.

The divestitures could raise as much as $1 billion. According to Bloomberg columist Max Nisen, "That may be wishful thinking. This list includes toxic assets from an already pretty toxic company."