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Debt-laden Valeant Sells Its Assets, More Divestments Likely

 
• By Sten Stovall

Troubled Valeant has started the new year by announcing the sale of some $2.1bn in assets to get funds to hone down its operations and to start easing its debt burden amid allegations of unethical practices.

Currency

Valeant Pharmaceuticals International Inc., the embattled Canadian drugmaker under investigation for price gouging, has agreed to sell about $2.1bn in assets to get cash to streamline its businesses and begin easing its $30bn debt burden – and observers believe more sell-offs are on the way.

The first of the two-step move announced Jan. 10 will see Paris-based L'Oreal SA paying Valeant $1

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