Confirmed: Valeant to Buy Dendreon

Following reports last week of a bid, it has now been confirmed that the Canadian company Valeant Pharmaceuticals International Inc will buy Provenge-maker Dendreon.

Valeant Pharmaceuticals International Inc will scoop up bankrupt cancer vaccine maker Dendreon Corp, after no additional qualified bids came forward by Tuesday's deadline, Valeant said.

A potential buyer dropped from the bidding process, three sources close to the sale told Reuters earlier.

Valeant, of Laval, Quebec, will get Seattle-based Dendreon's Provenge cancer treatment and other assets for $400 million in cash.

Complete news on Reuters: http://reut.rs/17hWY2r