NEW YORK, Oct 19 (Reuters) - Valeant Pharmaceuticals (N:VRX)
International VRX.TO said on Monday that it is considering the
sale of its neurological pharmaceutical business and may also
spin it off or take it private.
Valeant CEO J. Michael Pearson (L:PSON) said that the company is
continuing to look at acquisitions, such as for "durable" assets
that would fit with its Bausch & Lomb eyecare business.
He said he would look at cash deals but that using the
company's stock is not an option as it seeks to lower its debt
ratios. He said that buying back shares may be a better use of
the company's money at current prices. Valeant shares were
trading at $174 on Monday before the market opened, down from
its year high of $263.70 on Aug. 5.