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Valeant Pharmaceuticals International stock price
Valeant Pharmaceuticals International latest news:
LPC: US loan issuers lean on bond market to refinance parts of jumbo loans
US companies with rocky histories in the leveraged loan market, including vitamin and supplement retailer GNC Holdings Inc (GNC), weight loss company Weight Watchers International (WTW) and specialty drug maker Valeant Pharmaceuticals International, are turning to the high-yield bond market to help refinance large existing loans, sources said.
Here's What Overshadowed Valeant Pharmaceuticals in October, Pushing Its Shares Down 18%
Is there a light at the end of this tunnel?
Valeant shares rise on divestiture of 'female Viagra'
Valeant Pharmaceuticals International Inc. shares rose 2.4% premarket on Monday after the company said it will divest its Sprout Pharmaceuticals subsidiary, which makes the "female Viagra" drug Addyi, to "a buyer affiliated with former shareholders of Sprout." Under the deal, Valeant will receive a 6% royalty on worldwide sales of Addyi beginning 18 months from the sale agreement's signing, Valeant will no longer -- as required under the original transaction -- have to split future profits with the former shareholders or pay for marketing and other expenditures. Valeant bought Addyi in 2015 for $1 billion, but the product has not sold as well as expected, and Valeant announced a plan to relaunch the drug earlier this year. Some have said Addyi, which is supposed to treat low sexual desire in women, didn't sell well because Valeant didn't market the drug aggressively enough, while others have said that the drug simply doesn’t work for women. Litigation against Valeant will also be dismissed, the company said. Valeant will also provide a $25 million loan to fund initial operating expenses for the deal, which is expected to close by the end of the year. Valeant shares have dropped 24% over the last three months, compared with a 4% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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