Salix Pharmaceuticals jumped 6% to a new high above 169 on the stock market today on news that fellow specialty drugmaker Allergan is probably about to buy it. However, one of Allergan’s largest shareholders threatened to sue if the two companies make such a deal. Late Monday, anonymously sourced news reports said that Salix Pharmaceuticals (SLXP) and Allergan (AGN) could announce the buyout late this week or next. Rumors that Allergan is
Top-performing medical stocks can be a panacea for a depressed portfolio. Today’s Tech Leaders – Medical Screen features some heavy hitters in the pharmaceutical field. The maker of gastrointestinal disorder drugs such as Pepcid, Salix Pharmaceuticals (SLXP) was in recent weeks the topic of now-dormant takeover talk as Allergan (AGN) fought off Valeant Pharmaceuticals (VRX). Allergan, the maker of Botox, was recently browsing acquisition
Allergan is looking at potential acquisitions to prevent a hostile takeover from Valeant Pharmaceuticals and reportedly has approached Salix Pharmaceuticals and at least one other firm about a takeover. A deal between Salix (SLXP) and Botox maker Allergan (AGN) could happen as early as September, sources told the Wall Street Journal. But Salix, which makes medicine for gastrointestinal problems, is merging with a unit of Italy’s Cosmo