November 30, 2016 / 3:42 PM / 2 years ago

BUZZ-Valeant Pharmaceuticals: Talks to sell Salix unit to Takeda break down-WSJ

** Drugmaker’s U.S. shares drop as much as 7.4 pct to $15.89, Toronto shares as much as 7.5 pct to C$21.33

** Company's talks to sell its Salix unit to Takeda Pharmaceutical Co Ltd for about $10 bln have broken down, WSJ reports, citing sources (

** Though talks can be revived, Valeant is now focused on building Salix rather than selling it, report says

** Valeant said in early November it was in talks with third parties to sell its Salix stomach-drug business and other assets, but did not name the companies

** Valeant took charge of $1.05 bln in Q3, reflecting lower fair value of some U.S. businesses, mainly Salix, which makes treatments irritable bowel syndrome and diarrhea

** Up to Tuesday’s close, company’s U.S. and Canadian shares had dropped 83 percent this year as steep drug price increases and unorthodox use of a specialty pharmacy under previous leadership drew scrutiny from politicians and regulators.

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