Valeant to sell Dendreon unit to China's Sanpower for $820m

A sign for the headquarters of Valeant Pharmaceuticals International Inc is seen in Laval, Quebec June 14, 2016. REUTERS/Christinne Muschi

Canada’s Valeant Pharmaceuticals International Inc said its affiliate will sell its Dendreon cancer business to China’s Sanpower Group Co Ltd for $819.9 million, as the drugmaker continues to shed its non-core assets to repay debt.

Dendreon makes prostate cancer vaccine Provenge that was approved by the U.S. Food and Drug Administration in 2010.

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