July 17 (Reuters) - Valeant VRX.TO :
* Valeant agrees to sell Obagi Medical Products business
* Valeant - deal for $190 million in cash
* Says Valeant will use proceeds from sale to permanently repay term loan debt under its senior secured credit facility
* Valeant - estimates that 2017 revenue and adjusted ebitda (non-gaap) for Obagi business would have been approximately $85 million and $30 million respectively
* Valeant - certain affiliates of co agreed to sell Obagi medical products business to Haitong International Zhonghua Finance Acquisition Fund I, L.p.