served as Valeant's legal counsel. “This partnership with Valeant allows us the capacity to now ensure broader, more affordable access to all the women who have been waiting for this treatment. Valeant expects no impact to 2015 earnings, and moderate accretion to 2016 earnings. Under terms of the acquisition agreement, Valeant will pay approximately $500 million, subject to customary purchase price adjustments, upon the closing of the transaction and an additional payment in the amount of $500 million, payable in the first quarter of 2016, plus a share of future profits based upon the achievement of certain milestones. Allen G. Breed/AP Valeant acquires Sprout Pharmaceuticals after FDA approval of Sprout’s drug for improving female sexual desire. "The FDA rules on science," she said. “Delivering a first-ever treatment for a commonly reported form of female sexual dysfunction gives us the perfect opportunity to establish a new portfolio of important medications that uniquely impact women,” the company’s chairman and CEO, Michael Pearson, said. "It's breaking up their marriages, it's really having them feel lesser," she said of women with hypoactive sexual desire disorder, the condition flibanserin is approved to treat. For the 34-employee company Sprout Pharmaceuticals, this week marked the end of long and difficult battle that began when the company was first founded in 2011. Pharma giant Boehringer Ingleheim was the first to start developing flibanserin back in 2006, when a antidepressant drug actually increased libido instead of suppressing it, a common side effect for antidepressants. Based in Raleigh, N.C., the company is focused solely on the delivery of a treatment option for women with HSDD. But there's still skepticism about how well the drug works, and at what cost. Following the closing of the transaction, Valeant, under the REMS, will offer physicians and pharmacists the required certification programs for prescribing and dispensing Addyi. “Beyond building this in the United States, Valeant also offers us a global footprint that could eventually bring Addyi to women across the globe.”, Valeant Pharmaceuticals' agreement to purchase Sprout Pharmaceuticals will see it profit from the release of the latter's latest medicine: a pill to treat Hypoactive Sexual Desire Disorder , Top 5 countries poised to become the world’s next manufacturing hub, Top 5 financial services processes that are ripe for automation, Top 5 ways GDPR has impacted digital banking, Top 5 ways the finance industry can prepare for AI, Top 5 tips for retailers looking to sell into Chinese market, Top 5 fastest-growing economies in Africa, Top 5 countries with the highest trade tariffs, Top 5 least affordable cities for real estate, Top 5 countries with the largest fiscal deficits, Top 5 mistakes to avoid when you’re new to trading. in cash, plus a share of future profits based upon the achievement of certain milestones. ) In 2015, Sprout was acquired by Valeant for $1B, but our mission never left us. Hypotension, syncope and central nervous system (CNS) depression can occur with Addyi alone. Valeant's Chairman and Chief Executive Officer, J. Michael Pearson, said, "Delivering a first-ever treatment for a commonly reported form of female sexual dysfunction gives us the perfect opportunity to establish a new portfolio of important medications that uniquely impact women. August 20, 2015  by Canadian Manufacturing.com Staff, Valeant to acquire Salix Pharmaceuticals for $14.5B, Valeant eyes Middle East, African market with $1B acquisition, Valeant Pharmaceuticals CEO stepping down, Valeant Pharmaceuticals buys Medicis for US$2.6 billion, Bauer’s journey from hockey skates to PPE, As people stay home, Earth turns wilder and cleaner, GM shuts down Maven car share service in all markets including Toronto, 10 years after BP spill: Oil drilled deeper; rules relaxed, How lenders assess your application for industrial financing, Forty Creek releases Nanaimo Bar Cream liqueur, Trump says he and first lady tested positive for coronavirus, Financial aid for workers hurt by COVID-19 gets unanimous support in Commons, COVID-19 task force worries Trump’s rush to approve vaccine will spook Canadians, Health Canada green lights rapid COVID-19 test, Liberals reach deal with NDP on COVID-19 aid bill, likely averting election, COVID-19 Industry Leadership Honours: The Recap [UPDATED].

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