Jun 8, 2017

Valeant sells drug subsidiary to private equity for $930 million

Richard Drew / AP

Beleaguered drug company Valeant Pharmaceuticals has agreed to sell one of its subsidiaries, iNova Pharmaceuticals, to private-equity firms Pacific Equity Partners and The Carlyle Group for $930 million. The Australian-based iNova makes a slew of over-the-counter and prescription drugs.

Between the lines: Valeant is slimming down its drug operations, and this sale represents another attempt by CEO Joseph Papa to reduce the company's huge debt burden, which ballooned after the company acquired many other drug makers and controversially raised prices under ousted CEO Michael Pearson.

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Mike Allen

Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.

Go deeperUpdated 2 hours ago - Politics & Policy

Jacob Knutson

Buttigieg campaign claims Nevada caucuses were "plagued with errors"

Photo: Win McNamee/Getty Images

Pete Buttigieg's campaign wrote a letter on Sunday asking the Nevada State Democratic Party to release early vote and in-person vote totals by precinct and address certain caucus errors identified by campaigns, The Nevada Independent reports.

The big picture: The campaign alleges that the process of integrating early votes on caucus day was “plagued with errors and inconsistencies,” and says it received more than 200 incident reports from precincts around the state.

Go deeperUpdated 2 hours ago - Politics & Policy

Axios

Coronavirus threat grows, threatening some drug supplies

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

As the novel coronavirus continues spreading globally and China grapples with a limited production capability, there's a growing risk to about 150 prescription drugs in the U.S., sources tell Axios.

The big picture: The coronavirus has spread to more countries, with both South Korea and Italy stepping up emergency measures amid rising case numbers on Sunday. COVID-19 has killed at least 2,467 people and infected almost 79,000 others, mostly in mainland China.

Go deeperUpdated 3 hours ago - Health