Valeant hands off its controversial, $1B female libido drug to Sprout backers in sweetheart deal
A little more than 2 years ago, Valeant agreed to buy Sprout Pharmaceuticals and its controversial female libido drug Addyi for a cool $1 billion, half up front, while insisting they were on to a blockbuster. But while a dysfunctional Valeant was headed south and Addyi proved to be a commercial disaster, the deal was sidetracked into court as the Sprout founders accused the deeply troubled biopharma of a launch misfire for a drug that many in the industry believe should never have been approved in the first place.
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