Reuters reported after Monday's market close that Valeant Pharmaceuticals Intl Inc VRX plans on cutting its sales force for Addyi, a treatment aimed at female sexual dysfunction. Image Credit: Public Domain
Reuters noted that an outside sales force handles sales for Addyi, which fell under Valeant's corporate umbrella following the company's $1 billion acquisition of Sprout Pharmaceuticals.
Reuters noted that it has seen an internal memo that discussed the matter and Valeant's decision to not renew the sales force's contract when it expires on April 15 is due to slow sales.
Shares of Valeant were trading lower by more than 1.50 percent early Tuesday morning.
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