AGN: Allergan Stock Soars on Ackman, Valeant Takeover News

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

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

AGN[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.

More Drug Stock News

  1. AGN:
  2. VRX:
  3. [Image]:
  4. to merge:
  5. Hottest Healthcare Stocks Now:
  6. FDA Panel’s Surprising Approval of Afrezza Sends MNKD Stock Soaring:
  7. New Biotech Breakthrough: Buy Intermune Stock:

Source URL:
Short URL: