Valeant Maintains Forecast, Plans Asset Sales of $8 Billion

August 9, 2016 1:24 PM

14 0

Valeant Maintains Forecast, Plans Asset Sales of $8 Billion

Valeant Pharmaceuticals International Inc. surprised investors Tuesday and maintained its full-year guidance, setting a goal for the second half that will require the drugmaker to substantially raise its sales and profits.

As part of a planned turnaround, Valeant plans to sell assets that the company thinks will be worth about $8 billion, will renegotiate terms with lenders and will reorganize its business into three main segments as it tries to stabilize sales of several important but struggling products.

Also read: UPDATE 1-Industrial equipment hire firm Ashtead hikes annual results forecast

Read more

To category page

Loading...