Valeant Pharmaceuticals' (NYSE: VRX ) management wasn't satisfied with just discussing one deal today (their proposed takeover of Allergan (NYSE: AGN ) -- they also revealed a $1.4 billion sale to Nestle (NASDAQOTH: NSRGF ) this morning.
Valeant is selling several skin care drugs to Nestle, some of which are Botox competitors, in a sign of its confidence in the Allergan transaction. After all, if the Allergan buyout goes through, there could be potential antitrust issues with Botox if these assets aren't sold off.
Valeant's getting out ahead of that potential issue by selling the portfolio to Nestle -- and at five times sales, it's a pretty good price.
Watch the video below, in which Motley Fool health care analysts Michael Douglass and David Williamson discuss the deal, the implications for Valeant/Allergan, and why Nestle is interested in skin care.
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