BUZZ-Valeant Pharmaceuticals International Inc: To buy "female Viagra" maker

Thu Aug 20, 2015 11:35am EDT
 
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** Canadian drugmaker's U.S.-listed shares falls as much as 4.6 pct to $233.67; Toronto-listed stock slips as much as 4.5 pct

** Valeant to buy Sprout Pharmaceuticals, maker of the first approved treatment for low sexual desire in women, for about $1 bln plus milestone payments

** Sprout's controversial pink libido pill, Addyi, won approval from FDA on Tuesday

** "The fact is we don't know how big the market is for this condition," Raghuram Selvaraju analyst at H.C. Wainwright & Co said

** Valeant CEO Michael Pearson told Reuters that European approval of Addyi will probably take "a little longer" than Canadian approval and added that the company will likely make other women's health acquisitions after Sprout purchase is integrated

** Up to Wednesday's close, Valeant's Toronto-listed stock had more than doubled over the last 12 months