- Valeant Pharmaceuticals (VRX +11.2%) is surging after this morning's financial guidance conference call.
- The company's financial forecast was in-line with estimates but investors seem pleased with some of the commentary on the call, including CEO Michael Pearson's contention that the company is aiming to become one of the top five pharmaceutical companies on the planet (by market cap) in the next two years.
- "Unless you aim high, you don’t achieve high,” Pearson is quoted as saying, and although he added that he "can't say at this time" exactly how VRX will reach the lofty goal, the implication is that acquisitions will be the catalyst.
- Here's BMO's Alex Arfaei: "VRX has plenty of options and doesn't necessarily need to do a large deal [as] each acquisition improves [their] geographic and therapeutic infrastructure."
- Importantly: VRX says it will "continue to pursue a merger of equals" going forward. (presentation, slide 12)
Valeant aims to be top-five pharmaceutical company by 2016
Jan 7 2014, 13:12 ET