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Just add items to create a watchlist now: Add or Cancel Already have a watchlist? Log In By Dana Mattioli Valeant Pharmaceuticals International Inc. reached deals to sell $2.1 billion in assets, the struggling drug company's biggest moves yet to refocus around its consumer offerings and pare its heavy debt load. The Canadian company agreed to sell three skin-care brands, including its CeraVe line, to French cosmetics giant L'Oreal SA for $1.3 billion. It also said it would sell its Dendreon cancer business to Chinese conglomerate Sanpower for $820 million. The asset sales are part of Valeant Chief Executive Joseph Papa's efforts to sharpen the company's focus on its key franchises in skin drugs, stomach treatments, eye care and consumer health while selling noncore assets to pay down its roughly $30 billion in debt. Later Tuesday, Mr. Papa will speak at the J.P. Morgan Healthcare Conference in San Francisco, where analysts and investors are anticipating updates on his vision for Valeant. The former Perrigo Co. CEO joined Valeant in May to help restore battered investor confidence.

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