Drugmaker Valeant raises bid for Dendreon cancer vaccine

(Reuters) - Valeant Pharmaceuticals International Inc said on Thursday it has raised its bid for worldwide rights to a prostate cancer vaccine owned by bankrupt drugmaker Dendreon Corp. Laval, Quebec-based Valeant said that in response to competing bids, it has hiked its bid to $400 million in cash from $296 million for the drug, called Provenge, and certain other assets. Seattle-based Dendreon filed for bankruptcy protection in November after sales of Provenge fell short of expectations and left the company deep in debt.



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