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BRIEF-Valeant agrees to sell Sprout Pharmaceuticals unit to former shareholders of Sprout Pharmaceuticals
November 6, 2017 / 12:12 PM / in a month

BRIEF-Valeant agrees to sell Sprout Pharmaceuticals unit to former shareholders of Sprout Pharmaceuticals

Nov 6 (Reuters) - Valeant Pharmaceuticals International Inc

* Valeant agrees to sell Sprout Pharmaceuticals subsidiary to former shareholders of Sprout Pharmaceuticals

* Valeant - ‍In connection with sale, Valeant will provide a $25 million loan to fund initial operating expenses​

* Valeant- ‍In connection with sale completion, co to be released from ongoing obligations of original deal to split future profits with former shareholders​

* Valeant - ‍Existing litigation against company brought on behalf of former shareholders of sprout will be dismissed with prejudice​

* Valeant- In relation to sale completion, “existing litigation against co brought on behalf of former sprout shareholders will be dismissed with prejudice​”

* Valeant - ‍Affiliate has entered into an agreement to divest Sprout Pharmaceuticals subsidiary​

* Valeant - Agreement to divest is in exchange for a 6% royalty on global sales of Addyi(flibanserin) beginning 18 months from signing of sale agreement​ Source text for Eikon: Further company coverage:

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