Valeant Buyout Brings Marketing Clout To Sprout And Addyi
This article was originally published in The Pink Sheet Daily
Canada’s M&A specialist agrees to pay $1bn for the female sexual desire drug just two days after its FDA approval, taking the North Carolina firm in-house as a subsidiary focused on global registration of Addyi.
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At first glance, giving back Addyi to the original owners for next to nothing looks like a complete disaster but investors are relieved debt-ridden Valeant has managed to offload another asset.
Start-ups raised $2.57 billion in Q3. Biopharma companies penned 23 alliances; 11 acquisitions were signed, none in the diagnostics industry.
Panel’s vote to approve Sprout’s female sexual dysfunction drug is conditioned on a REMS and possible contraindication with alcohol use; questions about drug’s date rape potential, breast cancer finding in mice addressed.