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
Shares of embattled specialty drugmaker Allergan (AGN) were up 2.5% in midday trading on the stock market today after Leerink upgraded the stock based on valuation. Analyst Seamus Fernandez lifted his rating to outperform from sector perform late Thursday, following the stock’s 12% decline over the previous six trading days. The drop seemed to have been touched off by the weak Q2 earnings report of Valeant Pharmaceuticals International (VRX),
Specialty drugmaker Allergan (AGN) reported second-quarter profit and sales that beat Wall Street’s estimates Monday and announced that it’s trimming its workforce by 13% as it fends off a hostile takeover bid. The stock rose about 2% in early afternoon trading on the stock market today. Allergan’s Q2 earnings rose 24% over the year-earlier quarter to $1.51 a share, beating analysts’ consensus by 6 cents. It was the fourth straight quarter of