Valeant: Was iNova Pharma Sale The Worst Deal Ever?
Published: Jun 19, 2017
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.