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VRX

Valeant Pharmaceuticals International, Inc.

6/19/2013, 4:14 AM ET

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Monday, June 17, 4:16 PM Valeant Pharmaceuticals (VRX) announces a $1.75B public offering in connection with the acquisition of Bausch & Lomb. Goldman is the sole manager. Shares -1% AH. (PR) Comment! [Healthcare]
Monday, June 10, 10:52 AM Valeant Pharmaceuticals (VRX -0.8%) gives back all of Friday's gain today, despite being upgraded to Buy at CRT Capital with a price target of $100 a share. Comment! [Healthcare]
Friday, June 7, 3:40 PM Valeant Pharmaceuticals (VRX +0.5%) files a preliminary base shelf prospectus in Canada valid for a 25-month period during which time the company may offer and issue common shares of up to US$3B. VRX disclosed recently that it's acquiring Bausch & Lomb for $8.7B, of which it plans to finance $1.5B - $2B with new equity. Comment!
Wednesday, May 29, 9:43 AM Jefferies raises its price target on Valeant (VRX +1%) to $120 from $77 based on applying a 10.3x multiple to revised FY15 EPS estimates of $11.64. The Bausch & Lomb deal (I, II) "is extremely attractive," analyst Corey Davis says, adding that the company should see EPS CAGR of 31% going forward. Comment! [Healthcare]
Tuesday, May 28, 9:14 AM Premarket gainers: CSIQ +25%. PIP +21%. ROYL +17%. BGMD +11%. BLDP +11%. VRX +11%. SIGA +8%. TSL +8%. MAKO +8%. YGE +8%. CPST +8%. STSI +8%. HSOL +7%. ALU +7%. LDK +7%. JASO +7%. TIF +6%. Comment! [On the Move]
Tuesday, May 28, 7:19 AM Valeant (VRX) receives a Complete Response Letter from the FDA regarding its NDA for efinaconazole and there are some lingering questions regarding the treatment's container closure apparatus. VRX says it hopes to address the issues soon and respond to the regulator "in a timely manner." (PR) Comment! [Healthcare]
Tuesday, May 28, 6:30 AM Valeant (VRX) shares surge 7.7% premarket following news the company will acquire Bausch & Lomb for $8.7B in what is Valeant's 15th purchase since 2010. Ophthalmology is an area that the company has been looking at for three years, says CEO Mike Pearson. "It's a lot like dermatology - a growing market, a growing specialty," Pearson notes. Comment! [On the Move, M&A, Healthcare, Top Stories]
Monday, May 27, 8:49 AM More on Valeant/ Bausch & Lomb: VRX will buy the eye-care company for $4.5B and will spend $4.2B repaying the company's debt for a total of $8.7B, the largest deal VRX has ever cut since merging with Biovail three years ago. The acquisition will be accretive immediately and VRX says it expects to realize cost savings totaling $800M annually. 1 Comment [Healthcare, M&A]
Monday, May 27, 8:19 AM Valeant (VRX) will buy Bausch & Lomb for $8.7B in cash. 1 Comment [Healthcare, M&A, Breaking News]
Friday, May 24, 2:34 PM Cooper Companies (COO +2.1%) moves up in the slipstream created from reports that its rival Bausch & Lomb is near a deal to be acquired by Valeant (VRX) for $9 billion. Comment! [On the Move, M&A]
Friday, May 24, 1:50 PM More on Bausch & Lomb/ Valeant (VRX +12.8%): Warburg Pincus may agree to terms with VRX as early as next week, but sources tell WSJ the deal could still fall apart. If the deal fails to come to fruition, Warburg may opt for an IPO of Bausch & Lomb instead, something the private-equity firm has mulled since early this year. Comment! [Healthcare, M&A, On the Move]
Friday, May 24, 12:21 PM Valeant (VRX +12.3%) is nearing a deal to acquire Bausch & Lomb for ~$9B, WSJ says. Comment! [Healthcare, M&A, Breaking News]
Friday, May 17, 2:34 PM Actavis' (ACT +1.5%) pursuit of Warner Chilcott (WCRX +0.5%) may be a way to defend itself from a potential takeovers by Valeant Pharmaceuticals (VRX +2.5%) and Mylan (MYL +2.2%). VRX routinely looks at potential acquisitions, but to date has stayed away from WCRX because of its dwindling pipeline, so a combined ACT/WCRX deal would be out of the picture. And it would be virtually impossible for MYL, with a market value of $11.7B, to buy the combined firm. It already has about $6B in debt and Street estimates put a combined companies near $21B. Comment! [Healthcare, M&A]
Wednesday, May 15, 8:28 PM Actavis (ACT), which has rebuffed overtures from both Valeant (VRX) and more recently Mylan (MYL), may soon receive a bid from Novartis (NVS), WSJ says. "Intense price competition and fewer opportunities to cash in on patent expirations," are fueling a consolidation scramble in the generic-drug industry, the Journal notes, and ACT — which is also playing the role of acquirer in negotiations with Warner Chilcott (WCRX) — is at the center of the deal-making rumor mill. Comment! [Healthcare]
Friday, May 10, 12:40 PM More on Actavis (ACT +6.1%) / Warner Chilcott (WCRX +12.3%): The news comes just weeks after ACT broke off merger talks with Valeant Pharmaceuticals (VRX +0.5%) after balking at the premium it was offered. Now, considering the strength of ACT's recent Q1 report, that deal looks dead. Warner, on the other hand, had disclosed over a year ago that it was pursuing a sale. Comment! [Healthcare, M&A, On the Move]
Thursday, May 2, 11:45 AM More on Hyperion Therapeutics (HPTX +6.6%): In tandem with the company's announcement of FDA orphan drug exclusivity for Raviciti, the company also says it will exercise its option to acquire Buphenyl Tablets and Powder, an FDA approved therapy for the chronic management of the most prevalent urea cycle disorders, and Ammonul injection 10%/10%, a hospital based product used to treat UCD patients in hyperammonemic crisis, from Valeant Pharmaceuticals (VRX -0.9%). Comment! [Healthcare, On the Move]

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