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Valeant Wins Approval to Purchase Dendreon's Assets for $495 Million

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A bankruptcy judge Friday approved the sale of the assets of Dendreon Corp., a troubled cancer drug maker, to Valeant Pharmaceuticals International Inc. for $495 million, Dow Jones Daily Bankruptcy Review reported today. The sale underwent significant modifications as recently as Thursday night, adding an extra $95 million to the purchase price. A string of objections to the sale were all resolved consensually, some just hours before Friday's hearing began. Unsecured creditors also threw their weight behind the revised deal.