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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

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