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Salix Pharmaceuticals Ltd

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  • Nov 17- Botox maker Allergan Inc on Monday accepted a $66 billion takeover bid from Actavis Plc, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.. Besides the higher price tag, the Actavis deal came with only $400 million in R&D cuts for Allergan, far less than the $900 million decrease...

  • Nov 16- Allergan Inc is close to a buyout deal worth up to $65.5 billion by Actavis Plc, one that could end months of pursuit by Canada's Valeant Pharmaceuticals and William Ackman's hedge fund, Pershing Square Capital Management, according to a person familiar with the matter. Actavis may pay Allergan between $215 and $220 per share, with the final price likely...

  • *Disney falls after results, Salix plummets. "Any kind of change in how the healthcare law is interpreted is going to affect healthcare stocks, probably insurers first," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. Hospital operator Tenet Healthcare fell 6.5 percent to $47.85 while managed care facilities operator...

  • US STOCKS-Wall St flat as healthcare offsets energy Friday, 7 Nov 2014 | 2:41 PM ET

    NEW YORK, Nov 7- U.S. stocks were little changed on Friday as gains in energy shares were offset by falling healthcare stocks, in the wake of October payrolls data that indicated economic resilience in the face of slowing global demand. The unemployment rate fell to 5.8 percent, the lowest since July 2008, even as more people entered the labor force.

  • *Dow, S&P 500 coming off record closing highs. NEW YORK, Nov 7- U.S. stocks were little changed on Friday, though the Dow and S&P 500 still inched up to new records as the October payroll report pointed to economic resilience in the face of slowing global demand. "It's hard to not bet on the economy, with the fundamentals looking like a full house: earnings are rock solid,...

  • NEW YORK, Nov 7- U.S. stocks receded from record levels on Friday as investors locked in profits after the October payroll report came in weaker than expected, even as the report pointed to economic resilience in the face of slowing global demand. "It's hard to not bet on the economy, with the fundamentals looking like a full house: earnings are rock solid, we're...

  • *Dow, S&P 500 coming off record closing highs. NEW YORK, Nov 7- U.S. stock index futures pointed to slight gains at the open on Friday as the October payroll report showed jobs growth continued apace while the unemployment rate fell to a six-year low. I suppose there could be a short-term negative impact to this, since it was below expectations, but I don't see it has...

  • NEW YORK, Nov 7- Salix Pharmaceuticals Ltd and mobile gaming company Zynga Inc were among the biggest movers of Friday's premarket session, with the companies holding the top two spots for active Nasdaq names. Both saw heavy trading a day after their results, with Salix plummeting and Zynga advancing. Sources familiar with the matter told Reuters that the...

  • The two companies were close to inking a deal, but Botox maker Allergan balked after its due diligence raised questions over inventory levels, the people said, requesting anonymity because the negotiations were confidential. Earlier on Thursday, Allergan said it was in discussions with another party that a source familiar with the situation identified as...

  • Nov 6- Salix Pharmaceuticals Ltd slashed its full-year forecast and said inventory for its key drugs piled up, sending its shares down nearly 36 percent after the bell. Inventory as of Sept. 30 was $155 million, up about 50 percent since the beginning of the year. The company also reported a net loss of $88.6 million, or $1.39 per share, for the third quarter ended Sept....

  • Salix Pharmaceuticals profit, revenue miss estimates Thursday, 6 Nov 2014 | 5:10 PM ET

    Nov 6- Salix Pharmaceuticals Ltd reported a lower-than-expected quarterly profit and revenue. The company reported net loss of $88.6 million, or $1.39 per share, for the third quarter ended Sept. 30, compared with net income of $47.3 million, or 71 cents per share, a year earlier. Analysts on average had expected a profit of $1.55 per share on revenue of $392.4...

  • NEW YORK, Nov 6- Investors and bankers have been lamenting the potential death of large cross-border healthcare mergers since the U.S. Treasury Department announced in late September that it would curtail the tax breaks from international deals designed to give U.S. companies a legal home in a low-tax country. Now many bankers and investors expect companies...

  • Oct 27- Receptos Inc said its experimental ulcerative colitis drug met the main goal in a mid-stage trial, sending its shares up 30 percent. Receptos' study tested the safety and efficacy in two doses of its lead drug, RPC1063, against a placebo in 199 patients with ulcerative colitis. Receptos plans to begin a mid-stage study for it in 2015..

  • Oct 15- Another proposed U.S. corporate tax "inversion" deal collapsed on Friday when Irish food group Fyffes Plc and larger U.S. rival Chiquita Brands International Inc called off an agreement to combine. It was the fourth such deal to unravel since the Treasury Department on Sept. 22 cracked down on inversions, deals in which a U.S. company acquires or sets up a...

  • Oct 22- Abbott Laboratories and Mylan Inc said on Wednesday they would go ahead with their $5.3 billion deal in which Mylan will buy part of Abbott's overseas generics business and set up headquarters in the Netherlands, but they tweaked the terms of the transaction. Treasury on Sept. 22 made changes to the corporate tax rules that govern such "inversion" merger...

  • *AbbVie board recommends shareholders vote against deal. *AbbVie to pay Shire $1.64 bln break fee if deal collapses. LONDON, Oct 16- U.S. drugmaker AbbVie has pulled the plug on its plan to buy Dublin- based Shire, recommending shareholders vote against the planned $55 billion takeover following new U.S. tax rules.

  • Oct 15- Major U.S. drugmaker AbbVie Inc said on Wednesday it was reconsidering a $55 billion bid for Ireland's Shire Plc, marking a setback for "inversion" deals in which U.S. companies reincorporate abroad to cut tax costs. Steris Corp said on Monday it has offered to buy Britain's Synergy Health Plc for about $1.9 billion in a deal that would shift Steris' tax...

  • Oct 9- Botox maker Allergan Inc said on Thursday it expects to report third-quarter profit that is more than 20 percent higher than it previously anticipated, which it said bolsters its contention that an unsolicited takeover offer by Valeant Pharmaceuticals Inc undervalues the company. Allergan has criticized the company's model of growing through...

  • NEW YORK, Oct 8- Earlier this week, Canada's Valeant Pharmaceuticals International Inc appeared to have its plan to buy Botox maker Allergan Inc all mapped out. However, Valeant's well-laid plans appeared to run into trouble this week, when rival drugmaker Actavis Plc came back into the picture as a possible white knight for Allergan. Meanwhile, a separate person...

  • NEW YORK, Oct 3- Salix Pharmaceuticals Ltd, citing a "changed political environment," said on Friday it had scrapped a deal with Italy's Cosmo Pharmaceuticals SpA that would have allowed it to shift its tax base from the United States to Europe. In recent months, Salix has also been pursued by Allergan Inc as the Botox maker seeks to fend off a $53 billion hostile...