AGN: Allergan Stock Soars on Ackman, Valeant Takeover News

by Karl Utermohlen | April 21, 2014 9:55 pm

AGN: Allergan Stock Soars on Ackman, Valeant Takeover News

Investor Will Ackman is behind a potential deal that could unite Allergan (AGN[1]) and Valeant (VRX[2]).

AllerganValeantCombo AGN: Allergan Stock Soars on Ackman, Valeant Takeover News[3]Ackman is pushing to merge[4] the two medium-sized pharmaceuticals in a deal that would be worth around $42 billion. If a deal goes through, the combined company would have Valeant’s skin care portfolio and Allergan’s eye care products.

Allergan made a reported $6.3 billion in sales last year while Valeant reported $5.8 billion in revenue last year. The first company is run by CEO David Pyott who helped bring Botox into the mainstream.

News of a potential merger between Allergen and Valeant has seen both companies’ stock boom on Monday. AGN stock is up 6.03% while VRX stock is up 3.24% at closing.

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Endnotes:
  1. AGN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AGN
  2. VRX: http://studio-5.financialcontent.com/investplace/quote?Symbol=VRX
  3. [Image]: http://investorplace.com/wp-content/uploads/2013/09/AllerganValeantCombo.jpg
  4. to merge: http://in.reuters.com/article/2014/04/22/hedgefunds-ackman-idINL2N0ND19720140422
  5. Hottest Healthcare Stocks Now: http://investorplace.com/2014/04/hottest-healthcare-stocks-now-nbix-slxp-alny-wmgi-nbix-slxp-alny/#.U1XLylf3F8E
  6. FDA Panel’s Surprising Approval of Afrezza Sends MNKD Stock Soaring: http://investorplace.com/2014/04/fda-approval-afrezza-mnkd-stock/#.U1XLvFf3F8E
  7. New Biotech Breakthrough: Buy Intermune Stock: http://investorplace.com/2014/03/intermune-stock-itmn-biotech-stocks-to-buy/#.U1XLv1f3F8E

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