Valeant Pharmaceuticals International Inc (VRX.N) (VRX.TO) is considering the sale of Egyptian drugmaker Amoun Pharmaceutical Co to accelerate its debt-reduction plan, Bloomberg reported, citing people with knowledge of the matter.
Valeant is working with Goldman Sachs Group on the sale, which is at a preliminary stage, according to the report. It is also weighing a sale of some of its Latin American operations, Bloomberg reported.
Valeant bought Amoun for about $800 million last year.
Valeant, which earlier in the week reported lower-than-expected first quarter profit, could not be immediately be reached for comment.
The Canadian company has said that it is aiming to lower its almost $30 billion debt.