Moody's Sees Valeant Pharma's (VRX) Sprout Acquisition as Credit-Negative Event

Moody's Investors Service commented that Specialty pharmaceutical company Valeant Pharma's (NYSE: VRX) acquisition of privately-owned Sprout Pharmaceuticals, Inc. ("Sprout") for approximately $1 billion plus a portion of future profits is credit negative because it delays deleveraging relative to Moody's expectations. There are no changes to Valeant's ratings including the Ba3 Corporate Family Rating or the positive rating outlook.

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