Valeant said to weigh sale of Egyptian drugmaker Amoun-Bloomberg

Thu Jun 9, 2016 3:54pm EDT
 
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June 9 (Reuters) - Valeant Pharmaceuticals International Inc is considering the sale of Egyptian drugmaker Amoun Pharmaceutical Co to accelerate its debt-reduction plan, Bloomberg reported, citing people with knowledge of the matter.

Valeant is working with Goldman Sachs Group on the sale, which is at a preliminary stage, according to the report. It is also weighing a sale of some of its Latin American operations, Bloomberg reported. (bloom.bg/1U9mDh3)

Valeant bought Amoun for about $800 million last year.

Valeant, which earlier in the week reported lower-than-expected first quarter profit, could not be immediately be reached for comment.

The Canadian company has said that it is aiming to lower its almost $30 billion debt. (Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak Dasgupta)