June 9, 2016 / 7:57 PM / a year ago

Valeant said to weigh sale of Egyptian drugmaker Amoun: Bloomberg

(Reuters) - Valeant Pharmaceuticals International Inc (VRX.N) (VRX.TO) 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.

The headquarters of Valeant Pharmaceuticals International Inc., seen in Laval, Quebec November 9 2015. REUTERS/Christinne Muschi

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.

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

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