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Stock Market & Financial Investment News

News Breaks
May 27, 2013
10:59 EDTVRXValeant to acquire Bausch & Lomb for $8.7B
Valeant Pharmaceuticals International and Bausch + Lomb Holdings Incorporated announced that they have entered into a definitive agreement under which Valeant will acquire Bausch + Lomb for $8.7B in cash. Under terms of the agreement Valeant will pay aggregate consideration of $8.7B in cash, of which approximately $4.5B will go to an investor group led by Warburg Pincus and approximately $4.2B will be used to repay Bausch + Lomb's outstanding debt. Valeant expects to achieve at least $800M in annual cost savings by end of 2014. Bausch + Lomb expects to have revenues of approximately $3.3B and adjusted EBITDA in 2013 of approximately $720M.The transaction is expected to be immediately accretive to Valeant's cash earnings per share. Assuming the transaction occurred on January 1 and assuming the full realization of synergies, the acquisition would have been approximately 40% accretive to Valeant's expected 2013 Cash EPS. The transaction will be financed with debt and approximately $1.5B - $2B of new equity. Bausch + Lomb will retain its name and become a division of Valeant. Valeant's existing ophthalmology businesses will be integrated into the Bausch + Lomb division, creating a global eye health platform with estimated pro forma 2013 net revenue of more than $3.5B.
News For VRX From The Last 14 Days
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January 22, 2015
05:57 EDTVRXActavis, Valeant raise prospects of more healthcare deals, Financial Times says
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January 21, 2015
12:30 EDTVRXGlaxoSmithKline 'admired' by Pfizer CEO, FT reports
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January 13, 2015
12:49 EDTVRXValeant CEO says 'unlikely' to work with Bill Ackman again
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12:48 EDTVRXValeant CEO says will have a 'number of clean quarters in a row'
Valeant CEO Michael Pearson said on CNBC that his company will have a "number of clean quarters in a row" in an effort to dispute attacks on its business model.
10:56 EDTVRXValeant sees continuation of Q3 trends in Q4
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10:46 EDTVRXValeant doesn't see need to 'push a large deal for sake of doing large deal'
Sees double digit organic growth in 2014, 2015 and beyond. Says business development a priority for cash flow. Sees pursuing small and medium sized deals. Says doesn't see a need to "push a large deal for the sake of doing a large deal." Comments made at the JP Morgan Healthcare Conference. Valeant shares are up 2.1% to $158.76 in morning trading.
10:39 EDTVRXValeant repeats FY15 EPS view $10.10-$10.40, revenue $9.2B-$9.3B
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10:38 EDTVRXValeant repeats Q4 cash EPS view $2.55+ vs. previous view $2.45-$2.55
Repeats Q4 revenue view $2.1B-$2.3B. Sees Q4 adjusted cash flow from operations about $600M. Says absorbed additional negative Fx impact of ~$40M to revenue, ~10c to cash EPS. Says FDA submission for Vesneo on track for Q2. Sees submission for sub-micron loteprednol gel 0.38% in late Q3, early Q4, and expects to launch product in 3Q16. Sees filing NDA for Arestin LCM in 2H15. Sees >12% same store organic growth for total company in Q4, >10% for FY. Sees Bausch + Lomb organic growth >10% for FY. Sees continued strong performance from Jublia, other recent product launches. Strategic initiates for 2015 include 10%-12% organic growth, cash conversion rate of >90%, achieve $500M+ revenues for key launch programs, including Jublia, Ultra, Luzu, Retin-A Micro 0.08%, Onexton. Comments from slides being presented at the JP Morgan Healthcare Conference.
07:42 EDTVRXJPMorgan to hold a conference
33rd Annual Healthcare Conference is being held in San Francisco on January 12-15 with webcasted company presentations to begin on January 13 at 10:30 am; not all company presentations may be webcasted. Webcast Link
07:39 EDTVRXAmerican Academy of Cosmetic Surgery to hold a meeting
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