Exclusive: Valeant to drop deal-making in near term to cut debt, boost stock
By Nadia Damouni, Olivia Oran and Rod Nickel NEW YORK/WINNIPEG (Reuters) – Valeant Pharmaceuticals International Inc is abandoning its growth-by-acquisitions strategy for the time being to try to reduce debt, boost its stock price and one day return to its traditional deal-making in a stronger position, people familiar with the matter told Reuters. After spending $19 billion on 40 acquisitions since 2008, the Canadian drugmaker is regrouping after failing last month to acquire Botox-maker Allergan Inc , they said. …
