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Valeant Sells Obagi Medical To Chinese Firm

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By: TOM BRANNA

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CHINA: Valeant Pharmaceuticals International, Inc. has 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. “The sale of Obagi marks additional progress in our efforts to streamline our operations and reduce debt,” said Valeant CEO Joseph C. Papa. “As we continue to transform Valeant, we will remain focused on the core businesses that will drive high value for our shareholders.” ...

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