November 1, 2016 / 8:37 PM / 2 years ago

RPT-Valeant in talks to sell Salix stomach business -sources

(Repeats to add correct ticker symbol)

By Carl O’Donnell

Nov 1 (Reuters) - Valeant Pharmaceuticals International Inc is in talks to sell its Salix stomach business to Japanese pharmaceutical company Takeda Pharamceutical Co Ltd , according to people familiar with the matter.

The deal could potentially raise as much as $10 billion for the indebted drugmaker, the people said, asking not to be identified because the discussions are private. There is no guarantee that the discussions will lead to a deal, they said.

Valeant is working with investment bank Morgan Stanley on the sale, they added. News of the talks was first reported by the Wall Street Journal. (Reporting by Carl O’Donnell; Editing by Jonathan Oatis)

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