Dendreon Corp fka DNDNQ

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Valeant Poised to Buy Dendreon's Provenge

Last update: 11/02/2015 10:46:22 am


10:46 EST - Valeant (VRX) is set to buy Dendreon's cancer drug Provenge and other assets out of bankruptcy after its $400M bid maker didn't see any competing offers. VRX served as the stalking horse, or lead bidder, for the assets after raising its opening bid from an initial $296M. In 2010, Dendreon had a market value of some $7B, according to FactSet. But its prostate-cancer treatment failed to catch on with doctors. VRX will seek a judge's approval of the sale on Feb. 20. ([e-mail])

(END) Dow Jones Newswires

February 11, 2015 10:46 ET (15:46 GMT)

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