Valeant Pharma's (VRX) Relistor Said to Draw Interest from Potential Buyers
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(Updated - August 5, 2016 12:17 PM EDT)
Valeant Pharma's (NYSE: VRX) Relistor said to have drawn interest from potential buyers, according to Bloomberg.
UPDATE - Other drugmakers may be interested in the asset, sources said.
Relistor could get around $400 - $500 million in a potential sale.
News comes as Valeant works to get a $30 billion debtload under control, while also looking to ease public concerns over drug pricing and the company's business practices, which have taken center stage this year.
Progenics Pharma (Nasdaq: PGNX) is Valeant's partner on Relistor. The drug is indicated to treat constipation brought on by taking opioids for chronic, non-cancer pain.
Shares of Valeant are down 0.7 percent.
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