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Valeant Hires Morgan Stanley to Sell Dermatology Assets

  • Sale of Valeant’s Obagi, Solta could fetch up to $500 million
  • Process to sell assets set to kick off as early as this week
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Valeant CEO Joe Papa Outlines Turnaround Plan

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Valeant Pharmaceuticals International Inc. is working with advisers at Morgan Stanley as it weighs the sale of dermatology units Obagi Medical Products and Solta Medical to raise cash to reduce debt, according to people familiar with the matter.

The two businesses could fetch as much as $500 million and attract interest from other pharmaceutical companies, the people said, asking not to be identified because the deliberations are private. The sale process could start as early as this week, they said.