Keyword: Sprout Pharmaceuticals
After paying $1 billion for Sprout and its controversial female libido pill Addyi, Valeant is giving up.
When Valeant bought Sprout and its controversial female libido drug Addyi, it agreed to a marketing blitz that would bring royalties to Sprout's former shareholders. Valeant bungled the job, those former investors say. And they’re taking their gripes to court.
Poor sales trajectory, check. Scale-back in marketing effort, check. What’s next for Valeant’s Addyi and its maker, Sprout? An impairment charge, if you ask Wells Fargo’s analysts--and a big one, at that.