Timing is perfect for TST to pick of some generics that it can manufacture and sell at its two manufacturing plants.....
NEW YORK (Reuters) - As Valeant Pharmaceuticals considers a multibillion-dollar auction to pare down $30 billion in debt, its challenge will be choosing which assets to sell without compromising any of its key businesses, analysts and investment bankers said.
Investors have lost confidence in the drugmaker's ability to grow profits after its pricing and distribution practices came under investigation by Congress and by federal prosecutors. Its market capitalization has plunged to $11 billion from nearly $90 billion, raising questions about how it can shoulder its substantial debt.
Key shareholders, including activist investor William Ackman, who joined Valeant's board last month, are trying to shore up its finances. The drugmaker is working with investment banks Goldman Sachs and Centerview to assist with potential divestitures, and provide other strategic guidance, Reuters reported on Thursday.
In the process, Valeant will