Valeant Pharma International sells its interest in Dendreon Pharma to Sanpower Group Co., Ltd and with it, prostate cancer vaccine Provenge.

Valeant Pharmaceuticals International, Inc. has announced that its affiliate has entered into a definitive agreement to sell all of the outstanding equity interests in Dendreon Pharmaceuticals, Inc. to the Sanpower Group Co., Ltd., one of the largest privately owned conglomerates in China. Under the terms of the transaction, Valeant will receive cash consideration of $819.9 million at completion. Dendreon's first and only commercialized product is Provenge, an autologous cellular immunotherapy (vaccine) for prostate cancer treatment approved by the FDA in April 2010.