Valeant today announced a $1B deal to acquire Sprout Pharmaceuticals, which on Aug. 18 received the FDA okay to sell woman's libido booster drug Addyi.
Hitting the marketing during Q4, Addyl will target the estimated 10 percent of women who suffer from hypoactive sexual desire disorder.
"Delivering the first-ever treatment for a commonly reported form of female sexual dysfunction gives us the perfect opportunity to establish a new portfolio of important medications that uniquely impact woman," said a statement from Valeant CEO Michael Pearson.
His Quebec-based company markets dermatology, eye health, and gastrointestinal and generic drugs.
Pearson promises to keep Sprout's headquarters and 25-member staff in Raleigh under the leadership of current CEO, Cindy Whitehead. As divisional head, Whitehead will report to Anne Whitaker, Valeant executive VP.
Valeant relies on Sard Verbinnen & Co. (Renee Soto, Meghan Gavigan and Jared Levy) for media support, while Sprout uses Edelman's Amy Rose.
Edelman has handled PR duties for Addyi.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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