Cosmetics products maker Obagi Medical Products Inc agreed to a revised $24-per-share takeover offer from Valeant Pharmaceuticals International Inc after Valeant raised its offer to top a rival bid from German drugmaker Merz Pharma Group.Obagi shares were up 9 percent at $25.03 in early trading as investors geared up for a takeover fight over a company that makes specialised skin care products to fight signs of aging, sun damage and acne.Obagi's products are sold only through prescription and are considered to be more potent than commercially available over-the-counter cosmetics, enabling the manufacturer to command a premium pricing.Specialized cosmetic treatments for aesthetic reasons had taken a hit during the recession, but as the economy stabilzes, physicians offering these services are seeing patients return.
Obagi Medical Products, Inc. (Obagi) is a specialty pharmaceutical company that develops, markets and sells, and is a provider of, topical aesthetic and therapeutic prescription-strength skin care systems and related products in the physician-dispensed market. Shares of OMPI traded higher by 9.31% or $2.13/share to $25.01. In the past year, the shares have traded as low as $10.70 and as high as $22.96. On average, 476985 shares of OMPI exchange hands on a given day and today's volume is recorded at 886592.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 0.31% or $0.23/share to $75.60. In the past year, the shares have traded as low as $42.47 and as high as $76.56. On average, 1331660 shares of VRX exchange hands on a given day and today's volume is recorded at 173089.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 0.07% or $0.05/share to $76.53. In the past year, the shares have traded as low as $43.99 and as high as $77.66. On average, 425803 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 35834.
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