Dec 16 (Reuters) -
* Moody's- Valeant derm business in flux but Walgreens deal positive
* Moody's- Valeant faces execution risk as it faces transition in its
dermatology business and certain other product lines
* Moody's- Valeant recent deal with Walgreens is credit positive, as is
management's continuing emphasis on debt reduction during 2016
* Moody's-Valeant combination of transitioning to Walgreens and lower price in
other products results in weaker earnings outlook for 4q2015,2016
* Source text for Eikon ID:nMDY10bXhT