Valeant confirms it's in talks for divestments, including Salix

2 November 2016

Beleaguered Canadian drugmaker Valeant Pharmaceuticals International (TSX: VRX) saw its share rise as much as 33.7% to $23.86 after it issued a statement regarding press comments attributed to anonymous sources report regarding its gastroenterology business unit.

The media reports claimed that Valeant is in talks to sell its Salix unit to Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) for $10 billion.

"In accordance with its duties to shareholders and other stakeholders, management evaluates any transaction relating to core or non-core business units in accordance with the best interest of its shareholders and stakeholders. We are currently in discussions with third parties for various divestitures including but not limited to Salix. The discussions may or may not lead to a definitive agreement. Valeant does not intend to comment further on market speculation or disclose any developments unless and until it otherwise deems further disclosure is appropriate or required," Valeant explained

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