Sprout shareholders buy back “female Viagra” company

Sprout shareholders buy back “female Viagra” company

Valeant Pharmaceuticals is selling Sprout Pharmaceuticals back to shareholders of the company that came up with the female libido-enhancing pill, Addyi. Valeant will also provide a $25 million loan for operating expenses. Former Sprout CEO Cindy Whitehead is expected to lead the company. In return, Valeant will get 6 percent of royalties from sales of the drug. The deal also resolves a lawsuit against Valeant by former Sprout shareholders, who said the company failed to properly market the drug.

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