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Stock Market & Financial Investment News

News Breaks
August 20, 2014
10:53 EDTAGN, VRX, SLXPAnalysts say Salix takeover would boost Allergan
Acquiring Salix (SLXP) would be a positive move for Allergan (AGN), two research firms indicated in notes to investors today. WHAT'S NEW: After The Wall Street Journal yesterday reported that Allergan had approached Salix and at least one other drug maker about a possible takeover as it fends off Valeantís (VRX) hostile buyout attempt, William Blair analyst Tim Lugo wrote that a merger between Allergan and Salix would produce a "very attractive" combined company. Salix would provide Allergan with significant growth, according to Lugo. The regulatory risk of Salix's treatment for Iiritable bowel syndrome with diarrhea has been reduced as a result of positive data on the drug, the analyst stated. Moreover, a combination of Allergan and Salix would have "more obvious value" next year than a combination of Allergan and Valeant, Lugo believes. Salix provides more growth opportunities for Allergan than Valeant, Lugo wrote. Allergan could bid around $192 per share for Salix, according to the analyst, who kept Outperform ratings on both Allergan and Salix. Meanwhile, analysts at Wells Fargo believe that a largely debt financed acquisition of Salix by Allergan could boost Allergan's earnings by 8% in 2015 and 2016, and 11%-12% in 2017-2018. Including share repurchases, the deal could increase Allergan's 2016 earnings per share outlook to $11 from $10, the firm believes. PRICE ACTION: In mid-morning trading, following rallies yesterday, Salix fell 3.5% to $155 and Allergan lost 0.5% to $161.
News For AGN;SLXP;VRX From The Last 14 Days
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May 21, 2015
19:54 EDTVRXValeant to expand Canadian presence in coming years, Globe and Mail says
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May 20, 2015
06:37 EDTVRXSources: Valeant in talks to buy Amoun Pharmaceutical, Bloomberg reports
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06:32 EDTVRXValeant CEO sees quintupling in Asia sales by 2020, Reuters reports
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May 15, 2015
17:15 EDTVRXPaulson & Co. gives quarterly update on stakes
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17:08 EDTVRXSoros Fund gives quarterly update on stakes
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17:03 EDTVRXPershing Square gives quarterly update on stakes
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10:55 EDTVRXJANA Partners gives quarterly update on stakes
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10:29 EDTAGNAmerican Urological Association to hold an annual meeting
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