Valeant lays out $1 billion to acquire female libido drug maker Sprout

Acquisitive Canadian drugmaker Valeant Pharmaceuticals International (TSX: VRX) has agreed to acquire USA-based privately-held Sprout Pharmaceuticals, paving the way for Valeant to enter the field of female sexual dysfunction.

The proposed transaction is on a debt-free basis, for around $1 billion in cash, plus a share of future profits based upon the achievement of certain milestones.Under terms of the deal, Valeant will pay about $500 million, subject to customary purchase price adjustments, on the closing of the transaction and an additional payment in the amount of $500 million, payable in the first quarter of 2016, plus a share of future profits based upon the achievement of certain milestones. Valeant expects no impact to 2015 earnings, and moderate accretion to 2016 earnings.

Will gain rights to newly-approved Addyi