The Irvine-based company also announced that its second-quarter earnings grew 16% to $417.2 million and revenue is up 17% to $1.86 billion. Both figures exceeded analysts’ estimates.
Allergan has been battling a takeover bid from Valeant Pharmaceuticals (VRX) which recently tried to acquire the company for $53 billion in cash and stock. The company said that Valeant’s bids have “substantially undervalue[d]” Allergan and such a move would be very risky for shareholders.
AGN stock is up about 2% Monday afternoon. VRX stock is up 3%.
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