Valeant relinquishes female libido drug
Struggling firm is returning Sprout Pharmaceuticals subsidiary to original shareholders to resolve dispute over marketing
Valeant has agree to return subsidiary Sprout Pharmaceuticals to its original shareholders, in exchange for 6% royalties on sales of Sprout’s female libido drug Addyi (flibanserin).
Valeant originally paid $1 billion (£640 million) for Sprout in 2015 – just after Addyi had finally been approved by the US Food and Drug Administration (FDA) following a long and chequered development history.