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* Valeant Pharmaceuticals International of Costa Mesa agreed to buy closely held Xcel Pharmaceuticals of San Diego for $280 million. The purchase price doesn’t include expenses to retire $44 million in Xcel debt.

* Microsoft Corp. said it would share information on computer hacker attacks, flaws in Microsoft software and security software updates with governments around the world.

* Gateway Inc. founder and Chairman Ted Waitt plans to reduce his stake in the company, the third-largest U.S. personal-computer maker, by about 20% to diversify his investments.

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