Sullivan & Cromwell and Skadden Arps Slate Meagher & Flom have won roles advising as Canada's Valeant agrees to buy Sprout Pharmaceuticals for $1bn (£640m).

Valeant made an offer after Sprout gained regulatory approval this week (19 August) for its libido-enhancing drug. Flibanserin, marketed as Addyi, has been dubbed the "female Viagra".

Sullivan & Cromwell is advising Sprout on the deal with a New York-based team including corporate partners Matthew Hurd, Stephen Kotran, tax partner Ronald Creamer and executive compensation & benefits partner Matthew Friestedt.