Health group Ascendis, which is battling with a hefty debt pile about 20 times its market capitalisation, said on Wednesday it has a deadline of end-April to reach an agreement with lenders that could cause it to swap parts of its best assets in exchange for extinguishing debt.

Ascendis, which has businesses in the consumer health, pharmaceutical and animal health categories, has recently caught the attention of private equity groups interested in its assets and who have snapped up most of its debt vehicle...

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