Canada-based Valeant Pharmaceuticals International is reportedly planning to acquire US-based ‘female Viagra’ Addyi drugmaker Sprout Pharmaceuticals for around $1bn.
Under the deal, Valeant is expected to pay $500m upfront and the remaining amount the next year, reported The Wall Street Journal.
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Sprout just received approval from the US Food and Drug Administration (FDA) for its Addyi (flibanserin 100mg) to treat acquired, generalised hypoactive sexual desire disorder (HSDD) in premenopausal women.
Addyi is a once-daily and non-hormonal pill, which is said to be the first and only FDA-approved treatment for HSDD, a common form of female sexual dysfunction.
According to Sprout, the non-hormonal pill studies demonstrated improvements in desire for sex, reduced distress from loss of libido and increased satisfaction.
The deal, which is expected to be disclosed soon, could be completed in the third quarter of this year.
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By GlobalDataValeant is also planning to take Sprout’s 25 employees, including its leadership team, as part of the deal.
In April this year, Valeant also acquired US-based Salix Pharmaceuticals for around $11bn, which develops and markets prescription pharmaceutical products and medical devices to treat gastrointestinal diseases.
Last month, Valeant signed an $800m agreement to purchase Mercury (Cayman) Holdings, the holding firm of Amoun Pharmaceutical, to expand its operations in the pharmaceutical market of the Middle East and North Africa.
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