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Valeant to buy 'Female Viagra' firm

TORONTO, August 20, 2015

Canada's Valeant Pharmaceuticals International said on Thursday it would buy Sprout Pharmaceuticals, maker of the first approved treatment for low sexual desire in women, for about $1 billion plus milestone payments.

Sprout's controversial pink libido pill, Addyi, won approval from the US Food and Drug Administration on Tuesday after being rejected twice over concerns about its effectiveness and side-effects.

Addyi, popularly called the "female Viagra", carries a strong warning about potentially dangerous low blood pressure and fainting, especially when taken with alcohol, raising some doubts about its commercial prospects.

There are also concerns that the FDA was pressured into approving Addyi, given that Viagra - the first treatment for male sexual dysfunction - was approved more than a decade ago.

Unlike Viagra, which affects blood flow to the genitals, Addyi is meant to activate sexual impulses in the brain.

Raghuram Selvaraju, managing director of brokerage HC Wainwright & Co, has estimated peak sales of $100 million a year for Addyi, while Len Yaffe, managing director of hedge fund Kessef Capital Management, expects sales of $300 million. - Reuters




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