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Valeant Returns $1bn Female Libido Drug For Free

 
• By Kevin Grogan

At first glance, giving back Addyi to the original owners for next to nothing looks like a complete disaster but investors are relieved debt-ridden Valeant has managed to offload another asset.

Money down drain
Valeant's acquisition of Sprout was not money well-spent • Source: Shutterstock

Just over two years after buying Sprout Pharmaceuticals Inc. and its controversial female sexual dysfunction drug Addyi (flibanserin) for $1bn, Valeant Pharmaceuticals International Inc. has decided the deal was indeed a dud and is giving the pill back to the previous owners for next to nothing.

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