Valeant to acquire Sprout

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) said it will acquire Sprout Pharmaceuticals Inc. (Raleigh, N.C.) for $1 billion in cash. FDA approved Sprout's female sexual dysfunction treatment Addyi flibanserin on Tuesday.

Valeant said it would pay Sprout in two $500 million tranches -- the first upon deal close, expected this quarter, and the second in 1Q16. Sprout shareholders are also eligible for a share of future profits based on undisclosed milestones. ...