LAVAL , Quebec, Jan. 10 (UPI) -- Valeant Pharmaceuticals International Inc. will sell three of its skin care brands to L'Oreal for $1.3 billion in cash, it announced Tuesday.
The sale of the Canadian company's CreaVe, AcneFree and AMBI skin care lines is the latest effort by Valeant to pare down debt of $30 billion. It agreed Monday to sell Dendreon, its cancer treatment division known for the prostate medication Provenge, to Chinese company Sanpower for $820 million.