logo
Plus   Neg
Share
Email
Comment

Valeant Pharma Affiliate Completes Sale Of Dendreon - Quick Facts

Valeant Pharmaceuticals International, Inc. (VRX,VRX.TO) announced its affiliate has completed the sale of all of the outstanding equity interests in its former subsidiary Dendreon Pharmaceuticals LLC to the Sanpower Group Co. Ltd. for $819.9 million in cash. The company will use net proceeds from the sale to permanently repay term loan debt under its Senior Credit Facility.

Valeant Pharma reiterated its expectation to pay down $5 billion in debt from divestiture proceeds and free cash flow within 18 months of August 2016.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Dish Network Corp. on Wednesday reported a surge in profit for the fourth quarter from last year, reflecting an income tax benefit that helped offset the impact of lower revenues. The latest quarter's results were positively impacted by an income tax benefit of about $1.2 billion due to an adjustment to deferred tax assets and liabilities related to tax reform legislation. Shares of Glencore plc were gaining around 4 percent in the morning trading in London after the producer and marketer of commodities reported Wednesday a significant growth in fiscal 2017 profit on strong higher commodity prices. Chief Executive Officer Ivan Glasenberg said, "Our performance in 2017 was our strongest on record, driven by our leading Marketing and Industrial asset businesses." Shares of Orange SA were gaining around 2 percent in the early morning trading in Paris after the French telecom major reported Wednesday a significant growth in fiscal 2017 profit from continuing operations with revenue growth in most regions, mainly France and Spain. In France, revenue grew for the first time since 2009. Attributable net income, meanwhile, declined on the absence of prior
comments powered by Disqus
Follow RTT