Valeant Pharma Announces Sale Of Obagi Medical Products Business - Quick Facts

(RTTNews) - Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) announced that certain affiliates of the company have entered into an agreement to sell its Obagi Medical Products business for $190 million in cash to Haitong International Zhonghua Finance Acquisition Fund I, L.P. Valeant will use the proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility.

Valeant Pharma currently estimates that the full-year 2017 revenue and Adjusted EBITDA (non-GAAP) for the Obagi business would have been approximately $85 million and $30 million, respectively.