Valeant Pharmaceuticals International Inc (VRX.TO) is abandoning its growth-by-acquisitions strategy for the time being to try to reduce debt, boost its stock price and one day return to its traditional deal-making in a stronger position, people familiar with the matter told Reuters.
Establishing a tax domicile abroad to avoid U.S. taxes is a hot strategy in corporate America, but many companies that have done such "inversion" deals have failed to produce above-average returns for investors, a Reuters analysis has found.
Vivus wanted to reach a settlement with the biggest investors for board control.
Adcock Ingram Holdings Ltd. received a non-binding proposal from Chilean drug manufacturer CFR Pharmaceuticals SA for US$1.3 billion.
Cipla Ltd offers to take over Cipla Medpro South Africa.