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What’s in Valeant’s new drug deal?



AUSTIN (AP) Valeant Pharmaceuticals Inc. is getting a major boost in terms of its annual sales when it agrees to a blockbuster drug deal with drugmaker Axa Inc. The deal gives Valeant the most lucrative drugmaker deal in the history of Valeant, which has about $1 billion in cash and cash equivalents as of March 15.

Axa agreed to pay Valeant $300 million for a drug that is also being acquired by rival Theranos Inc. and Roche Holding AG.

Valeant expects the deal to generate $4 billion in revenue.

The drugmaker also will acquire another $100 million in revenue from Axa in the coming months.

Axabase will be valued at $3 billion by the end of 2021.

Valeants annual revenue from drug sales reached $1.3 billion in 2019, according to its most recent annual report.

Axs annual revenue has been flat since then.

Axanci will be acquired by AstraZeneca AG and Valeant will buy the company for $500 million in cash.

The price of the deal is expected to be between $200 and $250 per share, according with Axance’s latest quarterly earnings.

Axavir, which Valeant acquired for $1 per tablet in 2018, will be sold to Valeant for $150 million.

Axonce will be bought by Valeant and Valeavir will be owned by Axa.

Valeavirus vaccines, called EpidemicX, are already approved by the Food and Drug Administration.

Valea is the second-largest U.S. drugmaker, and Axa is third-largest.

In a statement, Axa CEO Peter J. Lundberg said: “We are very excited to partner with Valeant to bring a new generation of treatments to patients and patients around the world.

We believe Axonces approach will be a game changer for our patients, which are our primary customers.

Valeon has an extensive pipeline of new and innovative products and we look forward to working with them on our next major initiative.”

The deal was first reported by The Wall Street Journal.

Valeanta Chief Financial Officer Daniel Felsch said the drugmaker had a “strong pipeline of innovative and proven treatments that are ready for commercialization and distribution in the marketplace.”

He added that Axa was one of the “greatest, most trusted and trusted companies in the pharmaceutical sector.”

Valeant declined to comment further.

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