Valeant to sell iNova Pharmaceuticals for US930 million cash to 2 fund

LAVAL, Que. – Valeant Pharmaceuticals (TSX:VRX) expects to receive US$930 million in cash for its iNova unit, which it’s selling to two fund managers that had been considered rival bidders for the prescription and over-the-counter drug business.The buyers are funds managed by Pacific Equity Partners and The Carlyle Group, which say they plan to further grow Nova Pharmaceuticals.iNova markets a variety of products for weight management, pain management, cardiology and the treatment of coughs and colds.“We are very pleased to have finalized an agreement to acquire iNova. This is a strong company with great products with growth opportunities particularly in new markets,” Carlyle Group managing director David Bluff said in a statement.David Brown, managing director of Pacific Equity Partners, said the new owners intend to invest in product development, geographical expansion, marketing, staff and potential acquisitions of additional brands.“We are now working with Valeant and the relevant regulatory authorities to close the transaction in the second half of 2017,” Brown said in the joint statement with Carlyle Group.Valeant, based in Laval, Que., says in its separate statement that it will use proceeds from the sale of iNova to repay debt.“The sale of iNova is part of the company’s ongoing efforts to both simplify our operating model and strengthen our balance sheet,” said Joseph Papa, Valeant’s chairman and chief executive officer.“We will continue to evaluate opportunities that will enable us to deliver on our commitments and unlock value for shareholders.”None of the companies announced how the iNova deal will be split between the two buyers.Analyst Douglas Miehm of RBC Dominion Securities wrote in a note to clients that the transaction appears to be positive for Valeant and suggests that further deals will follow as it works to cut US$5 billion of debt by next February.Valeant shares were up slightly in extended trading before North American stock markets opened Thursday. Valeant to sell iNova Pharmaceuticals for US$930 million cash to 2 fund managers by The Canadian Press Posted Jun 8, 2017 5:27 am MDT Last Updated Jun 8, 2017 at 6:20 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more

TT woman 60 found dead with throat slit

(Trinidad Guardian) Valencia residents were left in shock yesterday, after a senior citizen was found dead on her bed, naked and with her hands tied behind her back and her throat slit.Steve Miguel, second from left, and his wife Christine look on as undertakers remove the body of Elizabeth Lewis from her Valencia home last night. Lewis was found nude with her hands tied and her throat slit. PHOTOS: RALPH BANWARIEElizabeth Susan Lewis, 60, of Old Valencia Road, Valencia, was found around 6 pm by her son-in-law Steve Miguel and daughter Christine, who had gone to drop food for her and clean the surroundings of her wooden house. On their arrival at the house, her son-in-law and daughter found the front door partially opened.When they went inside they found Lewis dead on her bed and called the Sangre Grande police.Lewis was reportedly living by herself in the wooden house, which has no electricity or pipe-borne water. She was the mother of three, two boys and one girl.Police who arrived on the scene cordoned off the crime scene to prevent villagers and other relatives, who had gathered after news of the killing spread, from interfering with their investigation. However, Homicide officers gave up their search for clues because of the darkness and are expected to return today.Lewis eldest son, Mario, who lives in west Trinidad, told T&T Guardian he had tried several times to get his mother to move in with him but failed to convince her.“My mom was a decent, quiet and loving lady, she will always advise us to stay away from trouble and live a life where we will be loved,” he said.“My mother never wanted to leave Valencia because of her roots in Valencia. If my mother was murdered I want swift justice. My mom does not deserve to die in this cruel manner.”Miguel described his mother-in-law as a humble and jovial woman. He said he and his wife visited her every evening to take food for her.“She never seemed to be lonely and always in good frame of mind. I will deeply missed her,” he said.Her daughter was too distraught to speak with the media.District Medical Officer Fogarola viewed the body and ordered its removal to the Forensic Science Center for a post mortem today.Visiting the scene were Snr Supt Garth Nelson, ASP Mario Robain, Insp Ken Lutchman Sgt Harper and officers from Homicide Region II Arouca.Homicide officers are continuing the investigation. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedT&T woman killed by partner after years of abuseJuly 27, 2017In “latest news”Jilted Daughter – in – Law is main suspect in Agricola murderFebruary 1, 2014In “Crime”T&T woman brutally stabbed to death, attacker kills selfJanuary 25, 2017In “latest news” read more