Valeant Is Weighing Offers For Assets As Stocks Plunges Again
CEO Joseph Papa confirmed the company is in discussions regarding the sale of its gastrointestinal business, but insisted the company does not need to divest assets to maintain liquidity.
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A post-US election relief rally was magnified in life science stocks last week and swept away poor third-quarter earnings results at Valeant, Endo, AstraZeneca and Impax.
FDA notified the company the US review goal date for the psoriasis pill has been extended three months from Nov. 16 to Feb. 16.
Takeda and Valeant are rumored to have restarted talks over some form of potential deal, this time reportedly focusing on a possible offer by the Japanese firm for Valeant's gastrointestinal business unit Salix.