Valeant Reportedly Looks at Selling Salix Business

Shares of Valeant Pharmaceuticals (VRX) were lower on Wednesday after the Wall Street Journal reported that the company is in advanced talks to sell its stomach-drug business to Japan's Takeda Pharmaceutical. The two companies are working on a deal for Salix Pharmaceuticals, which Valeant bought a year-and-a-half ago for $11 billion. The purchase price would include about $8.5 billion in cash and future royalty payments to Valeant, according to the Journal.

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