Valeant to sell skin care products business

18 July 2017

Beleaguered Canadian firm Valeant Pharmaceuticals International (TSX: VRX) has entered into an agreement to sell its Obagi Medical Products business for $190 million in cash to Haitong International Zhonghua Finance Acquisition Fund I.

Limited partners of the Fund include industry veterans in other geographic markets, such as China Regenerative Medicine International Limited (SEHK: 8158).

Debt ridden Valeant acquired Obagi Medical Products in April 2013 for $437.1 million.

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