Valeant Pharmaceuticals International Inc (VRX.TO)(VRX.N) has received unsolicited interest for its core assets, although the company is not actively shopping them, Chief Executive Officer Joe Papa said on Tuesday.
Earlier in the day, the Laval, Quebec-based company said it would sell billions of dollars in noncore assets to pay down debt. Valeant shares jumped 19.4 percent to $26.75 in midday N.Y. trading.
Valeant also maintained its earnings forecast for the year, to the relief of investors, although its second-quarter results missed expectations.
Earlier in the day, the Laval, Quebec-based company said it would sell billions of dollars in noncore assets to pay down debt. Valeant shares jumped 19.4 percent to $26.75 in midday N.Y. trading.
Valeant also maintained its earnings forecast for the year, to the relief of investors, although its second-quarter results missed expectations.
