According to a Bloomberg article, Valeant Pharmaceuticals International has hired Morgan Stanley as it weighs the sale of dermatology assets Obagi Medical Products and Solta Medical to raise money to reduce its debt.
The two businesses could be sold for as much as $500 million and attract interest from other pharmaceutical companies, sources said, and the sale process could start as early as this week.
In other company news, CNBC News reported Valeant Pharmaceuticals International's new CEO, Joseph Papa, met with shareholders Tuesday at the company's annual meeting, outlining his stabilization plan to rebuild the company's reputation.
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