Debt-laden Valeant Sells Its Assets, More Divestments Likely

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.

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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 $1.3bn in cash...

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