Valeant Pharmaceuticals (VRX) and hedge fund Pershing Square early Tuesday officially announced an unsolicited takeover bid for Allergan (AGN) that values the Botox-maker at more than $47 billion. News of the pending deal broke late Monday, but in a Tuesday SEC filing, Valeant and Pershing said they are offering $48.30 in cash and 0.83 Valeant shares for each Allergan share. Valeant stock was up more than 5%, near 132.50, in midday trading in the
Valeant Pharmaceuticals beat analysts’ fourth-quarter estimates Thursday, but analysts were more interested in the Canadian firm’s acquisition strategy in its quest to become the next drug giant. Cash EPS rose 76% vs. a year earlier to $2.15 — 9 cents above the consensus of analysts polled by Thomson Reuters. Sales rose 109% to $2.06 billion, in line. For 2013, EPS rose 51% to $6.24, with sales up 66% to $5.8 billion. Valeant (VRX)
Valeant Pharmaceuticals International (VRX) beat analysts’ Q4 estimates and affirmed its guidance Thursday morning, sending shares up 1.5% in the stock market today and to an all-time high. Valeant said cash EPS totaled $2.15, up 76% from the year-earlier quarter and 9 cents above the consensus of analysts polled by Thomson Reuters. Sales rose 109% to $2.06 billion, in line. For the full year, earnings rose 51% to $6.24 a share, with sales up 66%