November 2, 2016 / 7:42 PM / 9 months ago

Valeant exploring sale of eye-surgery equipment business - WSJ

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Nov 2 (Reuters) - Valeant Pharmaceuticals International Inc is exploring a sale of its eye-surgery equipment business, which could fetch as much as $2.5 billion, the Wall Street Journal reported.

The sale process is in an early stage and Valeant may still decide not to sell the business, the Journal reported, citing people familiar with the matter. (on.wsj.com/2fwjux5)

The indebted drugmaker said on Wednesday it is in talks with third parties to sell its Salix stomach-drug business and other assets, which could raise as much as $10 billion.

Valeant has been struggling to revive its dwindling share price since coming under scrutiny late last year for its drug pricing practices and its ties with specialty pharmacy Philidor. (Reporting by Nikhil Subba in Bengaluru; Editing by Saumyadeb Chakrabarty)

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