Biotech Values

[DewDiligence]

VRX Sells Infergen Rights for $71M

[I’m surprised they got that much.]

http://www.reuters.com/article/marketsNews/idUKWNAS505020071220

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Thu Dec 20, 2007 8:19am EST

Dec 20 (Reuters) - Valeant Pharmaceuticals International (VRX) agreed to sell its U.S. and Canadian rights on hepatitis C drug Infergen to privately held Three Rivers Pharmaceuticals, which will also acquire the remaining Infergen inventory.

Valeant, which makes products for dermatology, infectious diseases and neurology, said on closing it will receive about $70.8 million in cash and up to $20.5 million in two noncontingent payments over the following 18 months from Three Rivers.
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