Proceeds from the sale will be used to repay the company’s term loan debt under its Senior Secured Credit Facility.
Valeant Pharmaceuticals International Inc. announced on June 8, 2017 that it will sell its iNova Pharmaceuticals (iNova) business for $930 million in cash. Proceeds from the sale will be used to repay the company’s term loan debt under its Senior Secured Credit Facility. The sale is part of the Valeant’s effort to strengthen its balance sheet and simplify its operating model, according to its chairman and CEO, Joseph C. Papa.
iNova, which markets prescription and over-the-counter products in areas such as weight management, pain management, cardiology, and cough and cold, will be sold to a company jointly owned by funds advised and managed by Pacific Equity Partners and The Carlyle Group. Operating in more than 15 countries worldwide, iNova has established market positions in Australia, South Africa, and Asia. Valeant will maintain its footprint in these regions primarily through its Bausch + Lomb franchise.
The transaction is expected to close in the second half of 2017, subject to customary closing conditions, including receipt of applicable regulatory approvals. In this transaction, Goldman, Sachs & Co. served as financial advisor to Valeant, and Baker McKenzie acted as legal advisor to Valeant.
Source: Valeant
Drug Solutions Podcast: A Closer Look at mRNA in Oncology and Vaccines
April 30th 2024In this episode fo the Drug Solutions Podcast, etherna’s vice-president of Technology and Innovation, Stefaan De Koker, discusses the merits and challenges of using mRNA as the foundation for therapeutics in oncology as well as for vaccines.
Drug Solutions Podcast: Gliding Through the Ins and Outs of the Pharma Supply Chain
November 14th 2023In this episode of the Drug Solutions podcast, Jill Murphy, former editor, speaks with Bourji Mourad, partnership director at ThermoSafe, about the supply chain in the pharmaceutical industry, specifically related to packaging, pharma air freight, and the pressure on suppliers with post-COVID-19 changes on delivery.
A Novel, Enhanced, and Sustainable Approach to Audit Trail Review
July 4th 2025Eli Lilly and Company developed an innovative and sustainable approach to audit trail review (ATR) aimed at reducing the ATR burden while adhering to regulatory expectations and data integrity (DI) principles. The process has transformed employees' understanding of ATR and complemented the DI by design approach, leading to better system designs that meet expected controls and reduce non-value-added data reviews.