Valeant Pharmaceuticals International Inc. is taking a big price cut on Obagi Medical Products, selling the antiaging skin-care company to an Asian fund for $190 million.
The buyer, Haitong International Zhonghua Finance Acquisition Fund I LP, has ties to industry veterans in China, a beauty market of growing importance. Among its investors is LP Regenerative Medicine International Ltd., which specializes in bringing biomedical and health-care products to China.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"