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Stock Market & Financial Investment News

News Breaks
June 18, 2014
11:32 EDTVRX, AGNAllergan board to review unsolicited exchange offer from Valeant
Allergan (AGN) commented on Valeant Pharmaceuticals International's (VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan. Pursuant to the Valeant exchange offer, Allergan stockholders would receive 0.83 shares of Valeant common stock and $72.00 in cash per share of common stock of the company. Allerganís Board of Directors, consistent with its fiduciary duties and together with its financial and legal advisors, will carefully review and evaluate the Exchange Offer. Allergan stockholders are advised to take no action at this time pending the review of the Exchange Offer by the Board. The company noted that it previously received and rejected a revised proposal from Valeant to acquire all of the outstanding shares of Allergan for 0.83 shares of Valeant common stock and $72.00 in cash, and a Contingent Value Right related to DARPin sales. Allergan announced on June 10 after thorough consideration, the Allergan Board of Directors unanimously determined that the Revised Proposal substantially undervalues Allergan, creates significant risks and uncertainties for the stockholders of Allergan, and is not in the best interests of Allergan and its stockholders. Goldman, Sachs & Co. and BofA Merrill Lynch are serving as financial advisors to the Company and Latham & Watkins, Richards, Layton & Finger, P.A. and Wachtell, Lipton, Rosen & Katz are serving as legal counsel to the Company.
News For AGN;VRX From The Last 14 Days
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May 4, 2015
17:56 EDTVRXAckman says Valeant also an 'underrated platform' company
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12:41 EDTVRXAckman says Zoetis a 'great' business on standalone basis
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12:38 EDTVRXAckman says 'not sure' Valeant is best acquirer of Zoetis
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April 30, 2015
07:43 EDTVRXValeant named a new Top Pick at Barclays
Barclay's Doug Taso raised Valeant's (VRX) price target to $275 from $230 and named its his Top Pick following the Q1 report and recent management meetings that increased his confidence that earnings growth can be higher than consensus expectations. Management inferred that the Marathon and Salix (SLXP) acquisitions will drive much higher gross margins and the analyst believes the deal pipeline remains strong and dealmaking should continue. The firm has an Overweight rating on Valeant shares.
06:47 EDTVRXValeant price target raised to $271 from $222 at Cantor
Cantor increased its price target on Valeant after the company reported stronger than expected Q1 results. The firm thinks the company's U.S. sales could approach $7.4B this year and surpass $10B in 2016. It keeps a Buy rating on the shares.
April 29, 2015
06:13 EDTVRXValeant announces CFO succession plan
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06:12 EDTVRXValeant sees accretion from Salix acquisition over 20% in FY16
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06:11 EDTVRXValeant raises FY15 cash EPS view to $10.90-$11.20 from $10.10-$10.40
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06:11 EDTVRXValeant sees Q2 cash EPS $2.40-$2.50, consensus $2.45
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06:07 EDTVRXValeant reports Q1 cash EPS $2.36, consensus $2.34
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April 28, 2015
10:19 EDTVRXPershing Square lists Herbalife, Actavis as top Q1 losers
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April 27, 2015
06:19 EDTVRXPharmceutical companies buy drugs and raises prices, WSJ reports
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April 24, 2015
09:18 EDTVRXValeant and Progenics' Relistor eceives positive opinion from EMA
Valeant (VRX) and Progenics (PGNX) announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has adopted a positive opinion recommending a new indication for Relistor Subcutaneous Injection for the treatment of opioid-induced constipation when response to laxative therapy has not been sufficient in adult patients, aged 18 years and older. Additionally, the Committee has recommended a one-year extension of data/marketing protection for Relistor, to 11 years from the date of approval.

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