Aug 20 (Reuters) - Canada’s Valeant Pharmaceuticals International Inc is nearing a deal to pay $1 billion for Sprout Pharmaceuticals, the company that just won approval to sell the first drug that aims to boost a woman’s libido, the Wall Street Journal reported.
Valeant would pay all cash, one $500 million installment upfront and one next year, for Sprout Pharmaceuticals and its pink libido pills that will be sold under the brand name Addyi, the Journal reported, citing a person familiar with the matter. (on.wsj.com/1K7qXds)
Reuters could not immediately reach Valeant or Sprout for comment outside regular business hours. (Reporting by Supriya Kurane in Bengaluru; Editing by Anupama Dwivedi)