April 24, 2014 |
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.
May 3, 2011 |
Teva Pharmaceutical Industries, seeking to expand its specialty drug portfolio, plans to acquire Cephalon Inc. for $6.8 billion. Teva, which is based in Israel, has a large manufacturing plant in Irvine. That plant resumed operation in April after closing for a year following a warning by the Food and Drug Administration over quality-control problems. Sales of Copaxone, used in the treatment of multiple sclerosis, constituted about 30% of Teva's earnings in recent years, said Judson Clark, a healthcare analyst with Edward Jones & Co. That dominance has been threatened recently by new multiple sclerosis drugs from rival companies, Clark said.
August 4, 2006 |
Milan Panic, the controversial executive who became a symbol of corporate excess, agreed to pay $20 million to Costa Mesa-based Valeant Pharmaceuticals International to settle charges that he received unwarranted bonuses four years ago as the company's chairman. The payment settles all outstanding disputes between Panic and the company he founded, formerly known as ICN Pharmaceuticals Inc., Valeant said Thursday.
May 3, 2008 |
Valeant Pharmaceuticals International of Aliso Viejo said Friday that it was abandoning hope of becoming a global drug company and would cut nearly half of its workforce as part of a massive restructuring plan. The maker of neurology and dermatology drugs said it would lay off 130 employees in the U.S. and Mexico and eliminate 1,250 additional jobs overseas. The company will divest many of its overseas operations in the coming months, Valeant said.
April 22, 2014 |
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.
March 5, 2004 |
Valeant Pharmaceuticals International of Costa Mesa said Thursday that its loss narrowed in the fourth quarter despite a 63% plunge in royalty payments on ribavirin, a drug used to treat hepatitis C. The company, formerly called ICN Pharmaceuticals, reported a net loss of $1.8 million, or 2 cents a share, compared with a net loss of $100.7 million, or $1.20, in the year-earlier quarter. Revenue fell 12% to $176.2 million from $199.6 million because of the lower royalty payments.
September 12, 2006 |
Valeant Pharmaceuticals International disclosed Monday that federal regulators had launched an inquiry into stock trades that were made this spring when the Costa Mesa company released results of a drug trial. In a statement, Valeant said the Securities and Exchange Commission had also asked for information about Valeant's efforts to recover controversial bonuses paid to company founder and former Chief Executive Milan Panic.
April 15, 2004 |
Valeant Pharmaceuticals International, which changed its name from ICN Pharmaceuticals Inc. last year, must halt sales of a skin-care product that a jury found infringed a rival's patents, a judge ruled. U.S. District Judge Joseph J. Farnan Jr. in Wilmington, Del., concluded that Valeant should be permanently barred from selling its Glyquin line of skin lotions designed to bleach out age spots. In November, jurors concluded that Valeant intentionally infringed TriStrata Technology Inc.'
April 21, 2014 |
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.