Johnson & Johnson completes its exit from the cardiovascular stent business in this deal by year's end.
The deal will take Valeant into a growing, $5 billion annual market for drugs treating stomach disorders.
Deal to purchase NPS Pharmaceuticals will strengthen position in field of medicines for rare diseases.
Chinese prosecutors have formally filed charges against couple linked to bribery claims.
The Basel-based drugmaker is looking to bolster its offering of breast cancer drugs with the purchase.
Deal will allow the U.S. medical device maker to reduce its overall global tax burden.
Drugs giant is to have its "commercial practices" investigated by the Serious Fraud Office.
AstraZeneca rejected a final offer from Pfizer earlier this month, saying the proposal undervalued the company.
Rejection undermines U.S. drugmaker's plan for a merger to create the world's biggest pharma group.
AstraZeneca's boss said on Wednesday he would engage with Pfizer if the price was right.
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