Pharma: Valeant says NO to joint Takeda and TPG takeover

...giving Papa time to run the ship as the newly appointed chief executive.  So, the Quebec keeps the embattled but said to be world-class franchise known for therapeutic areas with dynamic workforce and affordable products...
The rejection came after a "premium" offer in a time when Valeant stocks had been plunging this year - perhaps due to debt load scandal and prompting to sell off non-core assets.  Valeant won a bid over Takeda last year of Salix which Valeant predictors think it's could be worth $1B in sales this year.  Upon news, VRX traded +6% to $28.  For Takeda, the takeover would have provided a spark to Xifaxan and uplift to Entyvio - reportedly.

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