Just two days after the FDA approval of its female sexual desire drug Addyi (flibanserin), Sprout Pharmaceuticals Inc. agreed to be purchased by Valeant Pharmaceuticals International Inc. for $1bn plus potential sales milestones, a move that will make the single-product private firm a subsidiary of Valeant and greatly increase the marketing might behind what will be a challenging launch.
The two companies announced the definitive agreement for purchase in exchange for $500m upon completion of the sale, another $500m payable during the first quarter of 2016, and a share of the profits from the sale of Addyi if certain milestones are met. Sprout obtained FDA approval of Addyi Aug