Valeant to Sell iNova Biz for $930M

Source: Reuters

Jun 08, 2017

Valeant Pharmaceuticals announced it will sell its iNova Pharmaceuticals business, which makes prescription and OTC products for weight management, pain management, cardiology and cough and cold, for $930 million in cash to pay down mounting debt.

The business unit will be purchased by a company jointly owned by funds managed by Pacific Equity Partners and The Carlyle Group.

Yesterday, Bloomberg sources reported that Valeant was in talks to sell its Bausch & Lomb unit’s surgical products business to German medical technology maker Carl Zeiss Meditec — a deal that could be worth up to $2 billion.

Read the Reuters coverage