Potential Sale of Gastrointestinal Business a Net Positive for Valeant
Media reports suggest Valeant is in advanced discussions to sell its gastrointestinal business, which was originally acquired as part of the Salix acquisition. Overall, we think a deal would potentially be a negative factor to our narrow moat rating and our fair value estimate, but this and other potential asset sales would likely begin to help alleviate concerns over the firm’s high debt load, in particular related to covenants on its $12 billion in secured loans. Ultimately, the company’s abil...Valeant Pharmaceuticals International is a pharmaceutical and medical device company that develops, manufactures, and markets a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). Co. has two operating and reportable segments: Developed Markets, which focuses in dermatology, neurology, gastrointestinal disorders, and eye health therapeutic; and Emerging Markets, which focuses primarily on branded generics, OTC products, and medical devices.
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