Valeant Pharmaceuticals (VRX) Down on Sprout Deal

Valeant Pharmaceuticals International, Inc. VRX shares dropped 3% to $237.65, after the company and Sprout Pharmaceuticals, Inc. entered into a definitive agreement under which a wholly-owned subsidiary of Valeant will acquire Sprout, on a debt-free basis, for approximately $1 billion in cash, plus a share of future profits based upon the achievement of certain milestones. Share volume totaled 152,000, compared to an all-day average of 272,000