Valeant’s stock is tanking after Dow Jones reported that talks to sell its Salix unit to Takeda have broken down.
Valeant’s stock fell as much as 6% this morning.
The embattled pharma company had been in talks to sell the unit to Japan’s Takeda for $10 billion.
The stock jumped up the stock 30% on the news.
This is a developing story. More to follow.