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Valeant (VRX): Was iNova Pharma Sale The Worst Deal Ever?



6/19/2017 5:54:48 AM

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On June 8, Valeant Pharmaceuticals (NYSE:VRX) announced the sale of Inova Pharmaceuticals for $930 million to Pacific Equity Partners and the Carlyle Group. Shares initially rallied to close up almost 10% for the day, but by the following morning most of the gains had disappeared. This happened as the company filed its 8-K form with the SEC showing the multiple achieved for this sale was 7.5 times EBITDA.

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