Report: Valeant Has Tapped Investment Bankers To Help Review Strategic Options

Valeant Pharmaceuticals Intl Inc (NYSE: VRX) has hired investment bankers to explore its strategic options, according to Reuters.

Reuters, citing "people familiar with the matter," reported that Valeant has tapped bankers and advisors at Goldman Sachs and Centerview Partners Holdings as the company may be a suitable takeover candidate. The bankers will also advice the company on dealing with creditors.

Valeant hasn't indicated it plans on selling itself but is open to selling noncore assets. Thus far, the company has received a "flurry of inquiries" from interested buyers, Reuters added.

Reuters suggested that the company's Xifaxin is an attractive asset that buyers may be interested in acquiring.

Xifaxin is Valeant's largest product in its gastrointestinal division which it acquired as part of the Salix deal. The company's aesthetics products, Obagi and Solato and its skin care product, CeraVe, are also said to be receiving interest from potential buyers.

Shares of Valeant were trading higher by 0.80 percent late Friday morning.