Douglas Pharmaceuticals Ltd. may be up for sale. It is said that an "information memorandum", prepared for prospective buyers when a company is raising capital or selling a company, was put out to the market this week. Douglas has been in exclusive sale discussions with Valeant Pharmaceuticals International, Inc., market sources said.

Graeme Douglas, Managing Director of Douglas Pharmaceuticals, denied that the company was being touted to Valeant or anyone else "at this time". 'I would like to think the company under other leadership would continue to progress,' Graeme said in January.