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Stock Market & Financial Investment News

News Breaks
August 1, 2014
15:04 EDTAGN, VRXValeant, Pershing say Allergan makes 'baseless claims' in 'frivolous' lawsuit
Valeant Pharmaceuticals (VRX) and Pershing Square Capital Management responded to the filing of a federal lawsuit by Allergan (AGN) in California, stating that the complaint "makes baseless claims about Valeant and Pershing Square regarding the tender offer rules." Valeant and Pershing said: "Allergan's true purpose in bringing the litigation is an attempt to interfere with shareholders' efforts to call a special meeting. That purpose is made clear in a separate letter Allergan sent today to the Delaware Court of Chancery. In that letter, Allergan noted that its bylaws 'provide that the Corporate Secretary 'shall consider ineffective' any Special Meeting Requests that are 'made in a manner that involved a violation of Regulation 14A under the Exchange Act, or other applicable law.' Pershing Square is targeting the middle of August for delivering shareholder requests to call a special meeting. Pershing Square and Valeant are confident that this desperate attempt to delay or avoid the special meeting will not succeed. The independent proxy advisory firms are expected to issue their recommendations on this matter in the near future, and this lawsuit also seeks to distract from those forthcoming recommendations."
News For VRX;AGN 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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