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BUSINESS
September 4, 2012 | Bloomberg News
Valeant Pharmaceuticals International Inc., Canada's largest publicly traded drug maker, agreed to buy Medicis Pharmaceutical Corp. for $2.6 billion to expand in wrinkle treatments and other skin care products. Valeant said it will pay $44 in cash for each share of Medicis, 39% more than the Scottsdale, Ariz., firm's Friday closing price. The transaction will close in the first half of 2013, Montreal-based Valeant said in a statement. The deal would be the largest for Valeant since it was created in a 2010 merger of Canada's Biovail Corp.
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BUSINESS
April 24, 2014 | By Ricardo Lopez
Orthopedic products maker Zimmer Holdings on Thursday announced it will acquire Biomet Inc. in a deal valued at $13.35 billion, including assumption of debt, the companies said.    The proposed acquisition follows a flurry of billion-dollar deals by pharmaceutical and medical device companies. PHOTOS: Best and worst countries to grow old in This week Swiss multinational company Novartis AG, maker of Excedrin, announced a restructuring of its businesses with GlaxoSmithKline that included the sale of GSK's oncology products to Novartis for $14.5 billion.  Activist investor Bill Ackman and Canadian firm Valeant Pharmaceuticals International Inc.  on Tuesday unveiled details  of their $45-billion bid for Irvine pharmaceutical company Allergan Inc. , which makes the popular Botox wrinkle treatment.
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BUSINESS
April 15, 2008 | From Times Wire Services
Shares of Valeant Pharmaceuticals International fell the most in five months as the Costa Mesa drug developer regroups after its president quit last month. Valeant reported April 1 that its president, Charles J. Bramlage, quit in late March and that it couldn't estimate the costs of a planned restructuring, which includes firings and asset sales. The price fell $1.12, or 8.3%, to $12.44 a share, and earlier declined 10%. Valeant also fell in early November after third-quarter earnings missed estimates.
BUSINESS
April 23, 2014 | By Stuart Pfeifer
Allergan Inc., the Irvine company that makes Botox, has adopted a "poison pill" defense that could make it more difficult for Canadian company Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman to force through a takeover bid. The company's "stockholder rights plan" would allow existing shareholders to buy Allergan stock at a steep discount if any single investor acquires more than 10% of its shares. The move prevents Ackman, who disclosed earlier this week that he had acquired 9.7% of Allergan's shares, from significantly increasing his holding.
BUSINESS
February 5, 2008 | From Times Wire Services
Valeant Pharmaceuticals International named J. Michael Pearson, formerly of consulting group McKinsey & Co., as chief executive to succeed Timothy C. Tyson, who resigned. Pearson will also become chairman immediately, replacing Robert A. Ingram, who will remain as lead director, the company said. Valeant stock has lost 31% of its value in the last year. That includes a 17% drop Nov. 1 after the Aliso Viejo, Calif., company's earnings missed estimates. Valeant last month sold U.S. and Canadian rights to hepatitis C drug Infergen to focus on more profitable drugs and streamline its sales force.
BUSINESS
May 8, 2008 | From Times Wire Services
Valeant Pharmaceuticals International said its first-quarter net income edged up slightly. However, with results adjusted for continuing operations, the Aliso Viejo-based specialty pharmaceutical company posted a loss, missing Wall Street expectations. The company said it earned $9.5 million, or 11 cents a share, compared with $9.3 million, or 10 cents, a year earlier. Revenue fell 5% to $194.7 million. Excluding discontinued operations and certain one-time costs and gains, Valeant lost $3.9 million, or 4 cents a share.
BUSINESS
September 18, 2008 | From Times Wire Services
Valeant Pharmaceuticals International agreed to buy Coria Laboratories for $95 million, adding the closely held drug maker's U.S. skin drugs. Valeant will buy all outstanding shares of the Fort Worth company from Coria parent DFB Pharmaceuticals Inc. and other shareholders, Valeant said. The deal will add to Valeant's earnings next year, the Aliso Viejo drug maker said. Valeant's products include Efudex for sun-damaged skin and Virazole for infant respiratory infections.
BUSINESS
August 12, 2008 | From Times Wire Services
Valeant Pharmaceuticals International reported a second-quarter loss as the Aliso Viejo company continued to pare its operations by eliminating businesses overseas. Valeant posted a loss of $74.6 million, or 83 cents a share, compared with a profit of $16.9 million, or 18 cents, a year earlier. Revenue fell 6% to $206.8 million. Excluding one-time items, Valeant recorded a loss of 6 cents a share. On average, analysts polled by Thomson Financial expected a loss of a penny a share.
BUSINESS
April 22, 2014 | By Stuart Pfeifer
Canadian company Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman moved forward with their plans to acquire Botox maker Allergan Inc., offering shareholders about $46 billion and touching off what could be a contentious fight. Several industry analysts said they expect Allergan to reject the offer as too low, and said a fierce boardroom battle may be on the horizon. An issue certain to alarm Allergan is Valient's announced plans to slash research and development spending at the Irvine company.
BUSINESS
April 22, 2014 | By Ricardo Lopez
Swiss pharmaceutical titan Novartis AG on Tuesday announced an overhaul of its operations that involved several multibillion-dollar deals with GlaxoSmithKline intended to allow Novartis to focus on its oncology business and boost profitability, the companies said. The spate of deals follows recent consolidations in the pharmaceutical industry with large price tags, including the $5.6-billion acquisition of an Anaheim specialty drug firm by Irish pharmaceutical company Mallinckrodt this month.
BUSINESS
April 22, 2014 | By Stuart Pfeifer
Allergan Inc., the Irvine company that makes popular wrinkle treatment Botox, acknowledged Tuesday that it has received a buyout offer from Valeant Pharmaceuticals International Inc. The company said the offer from the Canadian drug maker was unsolicited. Valeant is partnering with hedge fund manager Bill Ackman in the deal. In a news release, Allergan said its board of directors "will carefully review and consider the proposal and pursue the course of action that it believes is in the best interests of the company's stockholders.
BUSINESS
April 22, 2014 | By Stuart Pfeifer
Canadian company Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman moved forward with their plans to acquire Botox maker Allergan Inc., offering shareholders about $46 billion and touching off what could be a contentious fight. Several industry analysts said they expect Allergan to reject the offer as too low, and said a fierce boardroom battle may be on the horizon. An issue certain to alarm Allergan is Valient's announced plans to slash research and development spending at the Irvine company.
BUSINESS
April 22, 2014 | By Stuart Pfeifer
Activist investor Bill Ackman and his unlikely Canadian partner, Valeant Pharmaceuticals International Inc., unveiled details of their bid for Irvine pharmaceutical company Allergan Inc., which makes the popular Botox wrinkle treatment. Valeant will offer to pay $48.30 in cash and 0.83 shares of stock in its company for each share of Allergan stock. At Monday's closing price, the deal would be worth about $152.89 per share, or $45.6 billion. Shares of Allergan were up 14% at about $162.50 Tuesday morning, a sign that investors may want more for the company than Valeant and Ackman are offering.
BUSINESS
April 22, 2014 | By Ricardo Lopez
Swiss pharmaceutical titan Novartis AG on Tuesday announced an overhaul of its operations that involved several multibillion-dollar deals with GlaxoSmithKline intended to allow Novartis to focus on its oncology business and boost profitability, the companies said. The spate of deals follows recent consolidations in the pharmaceutical industry with large price tags, including the $5.6-billion acquisition of an Anaheim specialty drug firm by Irish pharmaceutical company Mallinckrodt this month.
BUSINESS
April 21, 2014 | By Stuart Pfeifer
Activist investor Bill Ackman is partnering with a Canadian pharmaceutical company in an effort to buy Allergan Inc., the Irvine company that makes the popular wrinkle treatment Botox. Ackman and Valeant Pharmaceuticals International Inc. have already acquired nearly 10% of Allergan's shares and will soon offer to purchase the company, Ackman and Valeant said Monday in a regulatory filing. News of the likely bid increased the stock price of both companies. In after-hours trading, investors drove up Allergan as much as 21% and Valeant by 10%. No formal offer was made Monday, but there was speculation about how much Allergan could fetch.
BUSINESS
May 27, 2013 | By E. Scott Reckard
Valeant Pharmaceuticals International Inc., Canada's largest publicly traded drug maker, is continuing an acquisition spree with an agreement to buy eye-care giant Bausch & Lomb Holdings Inc. for $4.5 billion. The Montreal company, which announced the deal Monday, said it also would pay $4.2 billion in debt owed by privately held Bausch & Lomb, a major manufacturer of contact lenses.   Calling Bausch & Lomb a “world-renowned brand,” Valeant's chairman and chief executive, J. Michael Pearson, said the deal would “transform Valeant into a global leader in eye health.” GALLERY: Biggest Southern California companies Valeant said it expects to squeeze out $800 million in annual cost savings by the end 2014 after merging Bausch & Lomb, which is based in Rochester, N.Y., with Valeant's much smaller eye-care operations.
BUSINESS
April 24, 2014 | By Ricardo Lopez
Orthopedic products maker Zimmer Holdings on Thursday announced it will acquire Biomet Inc. in a deal valued at $13.35 billion, including assumption of debt, the companies said.    The proposed acquisition follows a flurry of billion-dollar deals by pharmaceutical and medical device companies. PHOTOS: Best and worst countries to grow old in This week Swiss multinational company Novartis AG, maker of Excedrin, announced a restructuring of its businesses with GlaxoSmithKline that included the sale of GSK's oncology products to Novartis for $14.5 billion.  Activist investor Bill Ackman and Canadian firm Valeant Pharmaceuticals International Inc.  on Tuesday unveiled details  of their $45-billion bid for Irvine pharmaceutical company Allergan Inc. , which makes the popular Botox wrinkle treatment.
BUSINESS
October 24, 2006 | From Times Staff and Wire Reports
Valeant Pharmaceuticals International said Monday that it would restate some financial results because of errors in the Costa Mesa company's accounting for stock options. Based on the review so far, the company said financial statements for 1997 and after should no longer be relied upon because of option accounting errors. Moody's Investors Service reacted to news of the accounting errors by placing Valeant's debt under review for possible downgrade.
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