Valeant Pharmaceuticals International Inc will scoop up bankrupt cancer vaccine maker Dendreon Corp, after no additional qualified offers came forward by Tuesday's deadline, Valeant said.A potential buyer dropped from the bidding process, three sources close to the sale told Reuters earlier.Valeant, of Laval, Quebec, will get Seattle-based Dendreon's Provenge cancer treatment and other assets for $400 million in cash.Dendreon and Valeant will seek court approval of the sale on Feb. 20, Valeant said. It expects to close the deal by the end of this month.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 2.52% or $4.03/share to $164.13. In the past year, the shares have traded as low as $106.00 and as high as $165.69. On average, 2114130 shares of VRX exchange hands on a given day and today's volume is recorded at 1712795.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 3.73% or $7.44/share to $206.81. In the past year, the shares have traded as low as $116.01 and as high as $205.98. On average, 432892 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 669732.
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