Top-rated drugmakers such as Valeant Pharmaceuticals International (VRX) and Celgene (CELG) have been busy in the lab and on Wall Street, taking part in big merger deals. Today’s IBD 50 list features five top-rated drugmakers. In addition to Valeant and Celgene, the list includes Regeneron Pharmaceuticals (REGN), Lannett (LCI) and Allergan (AGN). On Friday Biogen Idec (BIIB) priced $6 billion of senior notes, a day after Gilead Sciences (GILD)
The market is still in a correction, which means that it’s not the best time to buy; but it never hurts to keep an eye on some top performers, such as these hot drugmakers on the IBD 50. Valeant Pharmaceuticals (VRX) said at the start of the month that it will shell out $445 million in a psoriasis drug licensing deal with AstraZeneca (AZN). The drug candidate, brodalumab, may be effective, but AstraZeneca’s old partner Amgen (AMGN) nixed the
Specialty-drug giant and IBD 50 stock Valeant Pharmaceuticals (VRX) agreed to pay big pharma AstraZeneca (AZN) up to $445 million in a licensing deal for a psoriasis drug candidate that had proved effective but also shown a suicide risk in clinical trials. Valeant agreed to pay AstraZeneca $100 million upfront for brodalumab, and committed up to $170 million in prelaunch milestones and $175 million in sales milestones. As phase three studies in