Valeant Reportedly Weighs Sale Of Skin, Cancer Drugs

(RTTNews) - Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) is exploring the sale of some of its smaller cosmetic and pharmaceutical assets, Bloomberg reported citing people familiar with the matter.

The report indicated that the company is considering the disposal of Obagi Medical Products Inc., a dermatology company it acquired in 2013, as well as Provenge, a treatment for advanced prostate cancer that was purchased last year. Valeant may also sell drugs acquired from Marathon Pharmaceuticals last year, the report said.

According to report, the divestitures could raise as much as $1 billion and attract other drugmakers with an interest in those areas. The process is at a preliminary stage, no decision is imminent, and the company may decide against selling some or all of the assets.