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VRX Memo: Addyi's Third-Party Sales Force To Be Cut When Contract Ends April 15, Planning Sales Effort Re-Launch

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VRX Memo: Addyi's Third-Party Sales Force To Be Cut When Contract Ends April 15, Planning Sales Effort Re-Launch

Reuters reported after Monday's market close that Valeant Pharmaceuticals Intl Inc (NYSE: VRX) plans on cutting its sales force for Addyi, a treatment aimed at female sexual dysfunction.

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.

Related Link: Valeant Creditors Reportedly Balking At Revised Lending Agreement; Investors Concerned

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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Posted-In: Addyi Reuters Sprout PharmaceuticalsBiotech News Health Care Movers General Best of Benzinga

 

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