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
Shares of embattled specialty drugmaker Allergan (AGN) were up 2.5% in midday trading on the stock market today after Leerink upgraded the stock based on valuation. Analyst Seamus Fernandez lifted his rating to outperform from sector perform late Thursday, following the stock’s 12% decline over the previous six trading days. The drop seemed to have been touched off by the weak Q2 earnings report of Valeant Pharmaceuticals International (VRX),
Valeant Pharmaceuticals International (VRX) early Thursday reported an in-line Q2 and lowered its guidance, though its sales guidance for the next two years was above consensus. Valeant was down more than 8% in midday trading in the stock market today, near 115 and within pennies of a nearly eight-month low. Valeant’s cash earnings rose 43% over the year-earlier quarter to $1.91 a share, beating analysts’ estimates by a penny. Sales climbed 86% to