November 2, 2016 / 5:17 PM / a year ago

BUZZ-Valeant Pharmaceuticals: Sued by Sprout investors over libido pill

** Canadian drugmaker’s U.S.-listed shares down 9.38 pct at $21.62

** Valeant was sued on behalf of investors in Sprout Pharmaceuticals Inc, which it bought last year for $1 bln, 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/month, twice as high as the market could bear

** Valeant on Tuesday said it is in talks with third parties to sell its Salix stomach-drug business and other assets

** More than 4.8 mln VRX’s U.S. shares traded, 1.8x 30-day moving avg

** VRX’s Toronto-listed stock down 7.41 pct at C$28.87

** Up to Tuesday’s close, VRX’s U.S. stock had fallen 76.53 pct YTD

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