November 2, 2016 / 4:41 PM / in 10 months

Valeant sued by ex-Sprout investors over libido pill

WILMINGTON, Del., Nov 2 (Reuters) - Valeant Pharmaceuticals International Inc was sued on Wednesday on behalf of investors in Sprout Pharmaceuticals Inc, which it bought last year for $1 billion, over its alleged failure to successfully market the female libido pill Addyi.

According to a complaint filed in Delaware Chancery Court, Valeant neglected its obligations to market Addyi and priced the drug at $800 per month, twice as high as the market could bear. (Reporting by Jonathan Stempel in New York and Tom Hals in Wilmington, Delaware; Editing by Chizu Nomiyama)

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