NEW YORK, Oct 19 (Reuters) - Valeant Pharmaceuticals International said on Monday that it is considering the sale of its neurological pharmaceutical business and may also spin it off or take it private.
Valeant CEO J. Michael Pearson said that the company is continuing to look at acquisitions, such as for “durable” assets that would fit with its Bausch & Lomb eyecare business.
He said he would look at cash deals but that using the company’s stock is not an option as it seeks to lower its debt ratios. He said that buying back shares may be a better use of the company’s money at current prices. Valeant shares were trading at $174 on Monday before the market opened, down from its year high of $263.70 on Aug. 5. (Reporting by Caroline Humer; Editing by Chizu Nomiyama)