By  on July 17, 2017

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.

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