(Bloomberg) -- Valeant Pharmaceuticals International Inc. agreed to pay about $1 billion in cash for Sprout Pharmaceuticals Inc., the U.S. drugmaker that this week received approval to sell a pill for low libido in women.
Valeant will also give closely held Sprout a share of future profits if certain milestones are achieved, according to a statement on Thursday.
Buying Sprout would move Valeant, which specializes in eye care and dermatology, into the women’s health market.
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