Sprout Pharmaceuticals didn't have to wait long for a big-name buyer to spring big bucks for the nascent drug developer. Sullivan & Cromwell took the lead for the company, founded in 2011, on its $1 billion sale this week to longtime Skadden, Arps, Slate, Meagher & Flom client Valeant Pharmaceuticals International.
August 20, 2015 at 05:58 PM
1 minute read
The original version of this story was published on Law.Com
Sprout Pharmaceuticals didn’t have to wait long for a big-name buyer to spring big bucks for the nascent drug developer.
Just two days after Sprout received U.S. Food and Drug Administration approval for its women’s libido drug Addyi, hyperactive acquirer Valeant Pharmaceuticals International Inc. announced Thursday that it has agreed to pay $1 billion in cash for the Raleigh, North Carolina-based target.
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