Quebec’s Valeant to Sell US Unit to China's Sanpower for US$820M

Sanpower Group, one of the largest privately owned conglomerates in China, has reached an agreement with Laval, Quebec-headquartered Valeant Pharmaceuticals International Inc., to acquire a 100 per cent stake in Valeant’s U.S. biopharmaceutical company Dendreon for US$819.9M. Dendreon produces a prostate cancer vaccine called Provenge. Sanpower Group, whose core business is in the technology and modern service industries, plans to accelerate Provenge sales penetration in the U.S. and introduce the product to China and other major markets in Asia.

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