Pro-EU parties are set to hold onto two-thirds of the seats at the EU Parliament.Europe Politicsread more
The projected result comes shortly after Conservative Party leader Theresa May announced her resignation as prime minister on Friday morning.Europe Politicsread more
A Beijing decision to rapidly and sharply cut its excessive and unsustainable trade surplus with the U.S. would change for the better the bilateral relationship, writes...World Economyread more
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Book income helped self-proclaimed socialist Bernie Sanders join the millionaire class, a group he has often criticized during his decades in politics.Politicsread more
Exit polls showed National Rally, a re-branding of Le Pen's National Front, beating Macron's party by just one seat.Europe Politicsread more
Back in April, Valeant made an initial offer backed by big shot hedge fund manager Bill Ackman for the Cramer-fave stock Allergan. The drug company has since fought tooth and nail to stay independent, even as Valeant has upped its bid twice.
Yet again, like a bad date who just won't take the hint, Valeant sent Allergan a letter on Monday morning indicating it might be willing to raise its bid again. Jim Cramer discussed the future of Allergan and its take on Valeant, with the company CEO, David Pyott.
"We have a huge momentum in sales growth. With 17 percent sales growth this quarter, it was the very best quarter in all of our 64 years as a company," said Pyott.
Allergan's management has taken dramatic actions to restructure the business to keep Valeant at arm's length this year. That paid off as it reported Monday morning a 2-cent earnings beat off of a $1.76 basis, with management delivering upside guidance.
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Pyott provided further color on where the company's growth stems from, noting that its strength is derived from multiple products. Restasis has grown by double digits in volume; glaucoma products have added 11 percent; and its new product Ozurdex, for diabetic macular edema, has hit it out of the ballpark by bringing in almost $120 million in the first nine months on the market.
With all of this momentum, why doesn't Allergan just buy Valeant and beat them at their own game?
"I've often stated that we are only interested in buying companies that have a very strong organic growth outlook. And we would never want to water ourselves down," noted Pyott.
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