June 8, 2017 / 2:24 PM / 2 months ago

BUZZ-Valeant Pharmaceuticals: Soars on $930 mln unit sale

** Canadian drugmaker's U.S.-listed shares jump as much as 8.6 pct to $13.22; Toronto-listed shares rise as much as 8.7 pct to C$17.84

** Both stocks post biggest pct gain in nearly a month across exchanges

** VRX to sell its iNova Pharmaceuticals business for $930 million

** CEO Joseph Papa steps up to slash company's huge debt pile, which was accumulated by former CEO Mike Pearson to more than $30 billion in a furious spate of deal making

** Up to Wednesday's close, VRX had fallen 47.8 pct on the TSX and U.S.-listed shares had fallen 50.6 pct in the past 12 months

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