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BRIEF-Valeant Pharmaceuticals completes sale of Inova Pharmaceuticals
September 29, 2017 / 11:10 AM / in 18 days

BRIEF-Valeant Pharmaceuticals completes sale of Inova Pharmaceuticals

Sept 29 (Reuters) - Valeant Pharmaceuticals International Inc:

* Valeant Pharmaceuticals completes sale of Inova Pharmaceuticals to Pacific Equity Partners and the Carlyle Group

* Valeant - expects it will exceed its August 2016 commitment to pay down $5 billion in debt from divestiture proceeds and free cash flow before February 2018​

* Valeant - ‍Valeant will use net proceeds of approximately $920 million from sale to repay term loan debt under its senior credit facility​

* Valeant - ‍estimates expected revenue and adjusted ebitda from inova business in Q4 of 2017 would have been about $65 million and $35 million, respectively​

* Valeant - co to utilise cash from operations to repay $100 million of amounts outstanding under revolving credit facility​

* Valeant - ‍sale of Obagi Medical Products business remains on track to close in 2017​ Source text for Eikon: Further company coverage:

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