April 4, 2016 / 10:30 PM / 3 years ago

Valeant to cut Addyi, dermatology sales forces -memo

The headquarters of Valeant Pharmaceuticals International Inc is seen in Laval, Quebec in this file picture taken November 9, 2015. REUTERS/Christinne Muschi/Files

NEW YORK (Reuters) - Valeant Pharmaceuticals International Inc will cut its sales force for Addyi, a treatment aimed at female sexual dysfunction, as well as some employees who sell dermatology products, according to an internal memo seen by Reuters.

The memo said that its contract with an outside sales force ends on April 15 and will not be renewed. Addyi, which Valeant purchased with the $1 billion acquisition of Sprout Pharmaceuticals, has had slow sales since it was launched last fall.

Bloomberg first reported the cuts.

Reporting by Caroline Humer; Editing by Chris Reese

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