Botox-maker Allergan is buying Kythera Biopharmaceuticals in a $2.1 billion deal.» Read More
Feb 18- Actavis Plc posted a better-than-expected adjusted quarterly profit and raised its full-year earnings forecast, saying it expected strong sales of its new branded drugs. Actavis agreed to buy Allergan Inc last November for $66 billion, outbidding a hostile offer by activist investor William Ackman and Valeant Pharmaceuticals International Inc.
Actavis President & CEO Brent Saunders explains the new corporate name, and the strong earnings beat. "We keep surprising people," says Saunders.
Actavis, which bought Botox-maker Allergan Inc in November, makes drugs from research in its own pipeline, and copy cat versions of other popular drugs. Sales of the Actavis's branded drugs nearly tripled to $1.83 billion in North America in the fourth quarter, accounting for 45 percent of total revenue. For the fourth quarter ended Dec. 31, Actavis's net loss...
It was man versus machine when Bill Ackman interviewed Ray Dalio in New York.
Allergan chief David Pyott tells CNBC that dealing with "raiders" like Bill Ackman and Valeant Pharmaceuticals was a full-time job.
David Pyott, Allergan chairman & CEO, discusses the company's historic quarter, Bill Ackman's failed attempt to take over the company and the decision to subdivide the management team.
WASHINGTON, Feb 10- For the first time in 20 years, patients suffering from the eye disease glaucoma may soon have new treatments as several young companies look to shake up the $5.6 billion global market. No new class of medicine has been introduced since Pfizer Inc's N> Xalatan, known generically as latanoprost, in 1996.. The newcomers aim to disrupt...
M&A experts forecast there will be more major pharma deals in 2015 — but the U.K. won’t be a focus and the deals won’t be done for tax reasons.
Some of the names on the move ahead of the open.
Bill Ackman appears set to take it easy for a few months after knockout performance in 2014.
The drugmaker has engaged in $100 billion of M&A in the last year, but CEO Brent Saunders told CNBC it is committed to innovation.
Jan 29- Bankrupt drugmaker Dendreon Corp has reached a stalking-horse deal with Canada's Valeant Pharmaceuticals International Inc to sell the worldwide rights to its cancer vaccine, Provenge, and certain assets for $296 million. The deal is subject to higher and better bids and extended the bid deadline to Feb. 10 for interested parties to participate in an...
Jan 28- Salix Pharmaceuticals Ltd said it would restate financial statements for all of 2013 and the first three quarters of 2014, adding to the drugmaker's list of woes. The restatement, which corrects errors related to the timing of revenue recognition, revenue-reducing returns, discounts and expenses, will cumulatively reduce reported net product...
Activist shareholders in 2014 helped the mergers and acquisitions landscape return to the pre-crisis days of 2007 – and they'll continue to make news.
BOSTON, Jan 16- Eric Mindich's $8.5 billion hedge fund, Eton Park Capital Management, is now ready to pick through the debt of beaten-up energy companies, an area it avoided last year as the price of oil tumbled. Eton Park dropped mortgage companies Fannie Mae and Freddie Mac with a big profit before a U.S. judge threw out a lawsuit filed by shareholders to prevent the...
SAN FRANCISCO, Jan 15- Allergan Inc Chief Executive David Pyott is close to joining the board of directors of Actavis Plc, which reached a deal to buy the Botox-maker for $66 billion in November, three people familiar with the matter said on Thursday. One investor who attended the meeting told Reuters that adding Pyott to the board could lend more credibility to...
Activist investor famous for his high-profile battle with Herbalife claims short was 'most philanthropic investment I have ever made.'
Valeant CEO Mike Pearson tells CNBC's Meg Tirrell the company is on a mission to prove allegations against the business model are not true. Pearson says Valeant is unlikely to work with Bill Ackman.
Healthcare M&A looks set to be strong again this year, following deals from Shire and Roche. But Goldman Sachs says energy's a sector to watch too.
Martin D. Sass' stock picks are trades in three popular sectors: airlines, pharmaceuticals and asset management.