BioCentury
ARTICLE | Company News

Valeant gains after Salix rumors

November 1, 2016 11:22 PM UTC

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) added $6.02 (34%) to $23.86 on Tuesday after media reports said it was discussing a sale of its Salix Pharmaceuticals gastroenterology business for about $10 billion. The reports named Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) as a potential buyer, but not the only bidder.

Takeda spokesperson Sandy Rodriguez declined to comment. In a statement issued after market close, Valeant confirmed that it has held discussions about "various divestitures including but not limited to Salix."...