Specialty-drug giant Valeant Pharmaceuticals International (VRX) agreed to drop its litigation against hostile-takeover target Allergan in exchange for Allergan allowing the originally scheduled Dec. 18 special shareholder meeting that could speed the potential merger. But while the meeting go-ahead makes a merger likelier, BMO Capital Markets analyst David Maris reported after a visit with Allergan (AGN) executives that they still sounded
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
Allergan is looking at potential acquisitions to prevent a hostile takeover from Valeant Pharmaceuticals and reportedly has approached Salix Pharmaceuticals and at least one other firm about a takeover. A deal between Salix (SLXP) and Botox maker Allergan (AGN) could happen as early as September, sources told the Wall Street Journal. But Salix, which makes medicine for gastrointestinal problems, is merging with a unit of Italy’s Cosmo