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Stock Market & Financial Investment News

News Breaks
January 31, 2014
08:02 EDTVRXValeant announecs approval of Retin-A Micro microsphere 0.08%
Valeant announced that it has received approval from the FDA for its Supplemental New Drug Application for Retin-A Micro Gel microsphere 0.08% for the topical treatment of acne vulgaris.
News For VRX From The Last 14 Days
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August 4, 2015
14:45 EDTVRXAllergan, Pfizer have most near-term deal capacity, says JPMorgan
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13:17 EDTVRXPar introduces first generic version of Valeant's sodium edecrin
Par Pharmaceutical announced that it has received final approval from the U.S. FDA for its Abbreviated New Drug Application for ethacrynate sodium for injection USP, equivalent to ethacrynic acid 50 mg. Ethacrynate sodium is the generic version of Aton Pharma's Sodium Edecrin. Par said its ethacrynate sodium for injection USP, 50 mg is the first and only generic available. Par has begun shipping ethacrynate sodium for injection USP, which is packaged in cartons of one 50 mg single-dose vial. Aton Pharma is a division of Valeant Pharmaceuticals (VRX).
July 27, 2015
08:42 EDTVRXValeant price target raised to $300 form $260 at Susquehanna
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07:50 EDTVRXValeant price target raised to $284 from $235 at Morgan Stanley
Morgan Stanley raised Valeant's price target to $284 and increased estimates based on strong organic growth prospects and additional M&A that can drive further upside. The firm rates shares an Overweight.
07:12 EDTVRXRedHill Biopharma provides update on RHB-106 program
RedHill Biopharma (RDHL) provided an update on its RHB-106 tasteless solid oral formulation bowel preparation development program under the worldwide exclusive license agreement with Salix Pharmaceuticals, recently acquired by Valeant Pharmaceuticals International (VRX). Salix confirmed to RedHill that it continues the development of RHB-106. Salix further clarified to RedHill that the bowel purgative product referenced in Valeant's Q2 financial results presentation1 as a failed toxicology screen is not RedHill's RHB-106. On February 27, 2014, RedHill and Salix entered into an exclusive license agreement under which Salix acquired the worldwide exclusive rights to RedHill's RHB-106 encapsulated formulation for bowel preparation and rights to other purgative developments. Financial terms of the transaction included an upfront payment to RedHill of $7M, and an additional $5M in subsequent milestone payments to RedHill. Salix also agreed to pay RedHill tiered royalties on net sales, ranging from low single digits up to low double digits. RHB-106 is an encapsulated formulation intended for the preparation and cleansing of the gastrointestinal tract prior to the performance of abdominal procedures, including diagnostic tests such as colonoscopies, barium enemas or virtual colonoscopies, as well as surgical interventions, such as laparotomies. RHB-106 is a tasteless solid oral dosage potentially allowing an unobstructed procedure with reduced side effects and improved compliance. It is also intended to prevent patient exposure to the often unappealing taste of current products.
July 24, 2015
07:06 EDTVRXValeant price target raised to $285 from $255 at UBS
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06:51 EDTVRXValeant price target raised to $290 from $250 at JPMorgan
JPMorgan analyst Chris Schott raised his price target for Valeant Pharmaceuticals to $290 citing the company's "very strong" Q2 results. Schott sees further upside to estimates and reiterates an Overweight rating on the stock.
July 23, 2015
12:12 EDTVRXValeant beats RBC as biggest Canadian company by market value, Bloomberg says
Valeant (VRX) has surpassed Royal Bank of Canada (RY) as the largest Canadian company by market value on the Toronto Stock Exchange, Bloomberg reports. Valeant surged 4.5% to a total market value of C$111.3B at 11:21 AM in Toronto, beating the Royal Bank's C$108.3B market value, the report says. Reference Link
06:29 EDTVRXValeant raises FY15 cash EPS view to $11.5-$11.80 from $10.90-$11.20
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06:26 EDTVRXValeant sees Q4 cash EPS $3.98-$4.18, consensus $3.49
Sees Q4 revenue $3.2B-$3.4B, consensus $3.03B.
06:25 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, consensus $2.86
Sees Q3 revenue $2.6B-$2.8B, consensus $2.74B.
06:24 EDTVRXValeant reports Q2 cash EPS $2.56, consensus $2.46
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06:06 EDTVRXValeant raises FY15 cash EPS to $11.50-$11.80 from $10.90-$11.20
The increased EPS guidance reflects continued business outperformance and approval of IBS-D indication for Xifaxan. Raises FY15 total revenue to $10.7B-$10.4B from $10.4B-$10.6B. Sees FY15 Salix revenue $1.2B. Raises FY15 adjusted cash flow from operations to be greater than $3.2B from greater than $3.1B. Sees FY15 SSS organic growth of greater than 10% for 2H15.
06:05 EDTVRXValeant sees Q4 cash EPS $3.98-$4.18, revenue $3.2B-$3.4B
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06:05 EDTVRXValeant sees Q3 cash EPS $2.60-$2.70, revenue $2.6B-$2.8B
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06:04 EDTVRXValeant reports Q2 GAAP EPS (15c), Q2 cash EPS $2.56
Excluding negative impact of ForEx and Salix, cash EPS would have been $2.73. Reports Q2 total revenue $2.73B vs. $2.04B last year. Reports Q2 Product sales $2.70B vs. $1.99B last year. Reports Q2 SSS organic growth up 19%. Reports Q2 Salix revenue $313M.

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