Valeant Pharmaceuticals International, Inc. (VRX) - NYSE
  • Thu, Jun. 9, 7:09 AM
    • Jaguar Animal Health (NASDAQ:JAGX) enters into a $15M 30-month common stock purchase agreement with Aspire Capital Fund, LLC. Upon the execution of the contract, Aspire bought 222,222 shares for $500K ($2.25/share). Remaining shares will be purchased at prevailing market prices.
    • The company and Napo Pharmaceuticals are involved in exploratory discussions about a possible merger and/or other ways to work together to build their businesses. Napo currently owns 26.3% of Jaguar common shares. Last month, it assumed ownership of the New Drug Application (NDA) and responsibility for human applications of crofelemer from Valeant Pharmaceuticals (NYSE:VRX) who acquired the rights from Salix Pharmaceuticals in April.
    • The FDA approved crofelemer, branded as Fulyzaq, in December 2012 for the symptomatic relief of noninfectious diarrhea in adult patients with HIV/AIDS on retroviral therapy.
    • JAGX closed yesterday at $1.32.
    | Thu, Jun. 9, 7:09 AM | 8 Comments
  • Dec. 8, 2015, 2:24 AM
    • Valeant Pharmaceuticals (NYSE:VRX) is considering selling its gas permeable contact lens division, Paragon Vision Sciences, that has come under scrutiny by the Federal Trade Commission for monopoly concerns.
    • The probe is one of several reviews of the company, which is being investigated by lawmakers over steep price increases and from investors over its relationship with specialty pharmacy Philidor.
    • Valeant shares have dropped more than 60% since it came under criticism for drug price hikes in September.
    | Dec. 8, 2015, 2:24 AM | 1 Comment
  • Oct. 15, 2015, 9:38 AM
    • Valeant Pharmaceuticals (VRX -9.2%) completes its purchase of all outstanding shares of Synergetics USA (NASDAQ:SURG) at a price of $6.50 per share, net of cash, plus one contingent value right (CVR) per share.
    • Each CVR represents the right to receive up to two contingent payments (up to an aggregate of $1.00) upon the achievement of certain milestones.
    • Previously: Valeant buys Synergetics USA for $6.50 in cash (Sept. 2)
    | Oct. 15, 2015, 9:38 AM
  • Sep. 2, 2015, 9:23 AM
    • Thinly traded micro cap Synergetics USA (NASDAQ:SURG) jumps 53% premarket on increased volume on the news that Valeant Pharmaceuticals (NYSE:VRX) will acquire it for $6.50 per share in cash. SURG shareholders will receive an additional $1.00 per share in cash if certain sales milestones are achieved after the transaction closes in Q4.
    • Synergetics develops and markets surgical devices, including the VersaVIT 2.0 for vitrectomy (eye surgery) and the Directional II Laser Probe.
    | Sep. 2, 2015, 9:23 AM
  • Aug. 20, 2015, 11:31 AM
    • In news everyone should know by now, Valeant Pharmaceuticals (VRX -3.3%) acquires privately-held Sprout Pharmaceuticals for $1B in cash. Sprout's "Viagra for women," Addyi (flibanserin) was approved two days ago by the FDA for the treatment of hypoactive sexual desire in premenopausal women. The commercial launch will commence in Q4. Because of the product's Boxed Warning, doctors and pharmacies will need to be certified under the FDA's REMS program to assure safe use.
    • Sprout CEO Cindy Whitehead will report to Valeant EVP and Group Chairman Anne Whitaker.
    • Previously: FDA clears "Viagra for women" (Aug. 18)
    | Aug. 20, 2015, 11:31 AM | 8 Comments
  • Aug. 20, 2015, 9:02 AM
    • Valeant Pharmaceuticals' (NYSE:VRX) $1B takeout of privately-held Sprout Pharmaceuticals is stoking speculation that potential competitor Palatin Technologies (NYSEMKT:PTN) is an attractive acquisition target as well.
    • Palatin's candidate for the treatment of female sexual dysfunction, including hypoactive sexual desire disorder (HSDD), is bremelanotide, a synthetic peptide analog of the naturally occurring hormone alpha-MSH, a melanocortin agonist. The melanocortin system plays a key role in sexual function as well as pigmentation, inflammation and energy homeostasis.
    • A recently completed Phase 2b clinical trial met its primary endpoint of a statistically significant increase in satisfying sexual events compared to placebo. Two Phase 3 studies are underway, each estimated to be completed in mid-2017.
    • Bremelanotide's big advantage over Sprout's flibanserin is the avoidance of hypotension and syncope (temporary loss of consciousness) when combined with alcohol. The most common adverse events observed with bremelanotide in the Phase 2b study were facial flushing (~17% of the participants), nausea (18 - 25%, depending of the dose) and headache (9 - 15%, depending on the dose).
    | Aug. 20, 2015, 9:02 AM | 4 Comments
  • Jul. 23, 2015, 3:50 PM
    • Valeant Pharmaceuticals (VRX +6.4%) acquires Salem, MA-based Commonwealth Laboratories for an undisclosed sum. The company provides breath testing services for a variety of digestive system-related analytes.
    | Jul. 23, 2015, 3:50 PM
  • Jul. 17, 2015, 9:18 AM
    • Valeant Pharmaceuticals (NYSE:VRX) acquires Mercury Holdings, the holding company of Amoun Pharmaceutical, for $800M plus contingent payments. Amoun is the largest Egyptian pharma firm, expected to book sales of EGP1.75B ($227.5M) this year. It specializes in anti-hypertensives, broad spectrum antibiotics and anti-diarrheals.
    • Valeant intends to use Amoun as a platform for further expansion into the Middle East and North Africa pharmaceutical markets. The transaction should close in Q3.
    | Jul. 17, 2015, 9:18 AM | 4 Comments
  • Jun. 26, 2015, 11:04 AM
    • So much for yesterday's up move. Zoetis (ZTS -9.8%) does a quick round trip on 3x higher volume after CNBC's David Faber reported that Valeant Pharmaceuticals (VRX -1.7%) is unlikely to pursue a merger. Apparently, it reached out to Zoetis as a courtesy to significant shareholder Bill Ackman.
    | Jun. 26, 2015, 11:04 AM | 18 Comments
  • Jun. 25, 2015, 4:07 PM
    • Zoetis (NYSE:ZTS) spurted upward near the close to finish the day up 12%. Market chatter says Valeant Pharmaceuticals (NYSE:VRX) has made a bid for the animal health firm. Trading in ZTS is currently halted.
    • Update: ZTS trading resumed.
    | Jun. 25, 2015, 4:07 PM | 8 Comments
  • May 29, 2015, 12:19 PM
    • Bayer's (OTCPK:BAYRY) (OTCPK:BAYZF) current #5 rank in the global animal health market could change once it divests its low margin plastics business either via an IPO or direct sale, possibly to a private equity firm. Analysts believe the unit could fetch as much as 11B euros ($12.1B).
    • CEO Marijn Dekkers says animal health is a "very attractive business for us. We've always looked with interest in it. It hasn't happened with us yet."
    • The top acquisition target would be Zoetis (ZTS +0.8%) which generated $4.8B in sales in 2014. Bayer will probably have competition, though. Valeant Pharmaceuticals (VRX -1.7%) and Merck (MRK +0.2%) have been mentioned as likely suitors.
    | May 29, 2015, 12:19 PM | 6 Comments
  • Mar. 27, 2015, 4:16 PM
    • Brean Capital's Difei Yang says small cap Hyperion Therapeutics (NASDAQ:HPTX) should be on the acquisition radar considering Big Pharma's appetite for rare disease players. The company's revenues are generated by two products, Ravicti (glycerol phenylbutyrate) and Buphenyl (sodium phenylbutyrate), that treat urea cycle disorders, inherited metabolic diseases caused by a deficiency in one of the enzymes or transporters in the urea cycle. Elevated ammonia, a consequence of the failure to convert ammonia to urea, can have serious consequences, such as brain damage, coma and even death.
    • Mr. Yang estimates that the company's takeout price at $60 per share. He lists Shire plc (NASDAQ:SHPG), Valeant Pharmaceuticals (NYSE:VRX), and Endo International (NASDAQ:ENDP) as potential suitors. HPTX closed today at just under $43.
    • The company booked ~$114M in revenues last year but took a loss of ($6.3M).
    | Mar. 27, 2015, 4:16 PM | 1 Comment
  • Mar. 16, 2015, 1:47 AM
    | Mar. 16, 2015, 1:47 AM
  • Mar. 12, 2015, 3:21 AM
    • Valeant (NYSE:VRX), which is currently marketing a $9.6B high-yield bond to finance its planned acquisition of Salix Pharmaceuticals (NASDAQ:SLXP), is not pulling the deal despite reports that Endo International (NASDAQ:ENDP) is making a rival bid.
    • A road show for the deal - which would be the second largest junk bond on record - started on Tuesday.
    • Endo's bid values Salix at $175/share ($11.2B) in cash and stock, while Valeant's $10.1B offer consists of $158 per share in cash.
    • Previously: Endo launches $175/share bid for Salix (Mar. 11 2015)
    • Previously: Valeant initiates debt offering (Mar. 09 2015)
    • VRX +2% AH
    | Mar. 12, 2015, 3:21 AM
  • Mar. 11, 2015, 2:45 PM
    • Endo (NASDAQ:ENDP) has submitted a proposal to Salix's (NASDAQ:SLXP) board to buy Salix for $175/share ($11.2B) in cash and stock, based on yesterday's closing prices.
    • In an open letter (.pdf) to Salix's board, Endo states it's offering $45 in cash and 1.46 Endo shares for each Salix share. It predicts a deal would be accretive to 2017 EPS by 15%-20% relative to Endo's current plan.
    • The offer price represents an 11% premium to Valeant's (VRX -2.7%) $158/share all-cash February deal to acquire Salix. Endo would have to pay a $5.50/share breakup fee to make the deal happen.
    • Endo and Salix both remain halted. Before the halts, Endo was down 1.1% to $88.02, and Salix up 6.5% to $167.82.
    • Prior Endo/Salix coverage: I, II
    | Mar. 11, 2015, 2:45 PM
  • Mar. 11, 2015, 1:08 PM
    • If Endo International (ENDP +0.5%) is ultimately successful in buying Salix Pharmaceuticals (SLXP +6.2%) for $170 - 175 per share, it would have to pay the breakup fee of $356M owed to Valeant (VRX -5.8%) which would add ~$5.50 per share to the deal.
    • Endo made its offer in a private letter sent to Salix's BOD today.
    • Update: The price being bantered about on social media is $165/share so, apparently, the breakup fee is included in the previous range of $170 - 175. Also, the offer is allegedly 25% cash and 75% stock.
    | Mar. 11, 2015, 1:08 PM | 1 Comment
Company Description
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics. The company operates through two... More
Sector: Healthcare
Industry: Drug Delivery & Accessories
Country: Canada