U.S. generic drugmaker Actavis , the subject of intense takeover speculation, may have found its best defense: a potential purchase of Warner Chilcott Plc, a specialty pharmaceutical company that has been for sale on and off for years. Over the past several weeks, Actavis has spurned approaches from Canadian pharmaceutical company Valeant Pharmaceuticals International and U.S. competitor Mylan Inc, to instead pursue a bid for Warner Chilcott, people familiar with the situation have said.Buying Warner Chilcott, a maker of women's health pharmaceuticals with a $4.8 billion market value, would put Actavis in the branded pharmaceutical space and reduce its tax rate because Warner Chilcott is based in Ireland.For other healthcare companies, Warner Chilcott is far from a desired target. A big chunk of its revenue comes from drugs soon approaching patent expiration. Efforts to sell the company failed repeatedly over the years given little buyer interest.A combination of Actavis and Warner Chilcott would likely kill chances of Actavis being taken over anytime soon by Valeant, Mylan or any other suitor eyeing the $15.8 billion company, according to analysts and people close to the situation who asked not to be named because the matter is not public.
Mylan, Inc. develops and markets generics along with a number of proprietary drugs. Shares of MYL traded higher by 1.69% or $0.52/share to $31.22. In the past year, the shares have traded as low as $20.21 and as high as $31.22. On average, 5733330 shares of MYL exchange hands on a given day and today's volume is recorded at 2360381.
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 1.11% or $0.84/share to $76.59. In the past year, the shares have traded as low as $42.47 and as high as $77.44. On average, 1405990 shares of VRX exchange hands on a given day and today's volume is recorded at 553901.
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 1.81% or $1.4/share to $78.59. In the past year, the shares have traded as low as $43.99 and as high as $77.70. On average, 418769 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 778602.
Warner Chilcott Public Limited Company is a specialty pharmaceutical company. Shares of WCRX fell by 1.66% or $-0.32/share to $18.96. In the past year, the shares have traded as low as $10.85 and as high as $23.28. On average, 4810880 shares of WCRX exchange hands on a given day and today's volume is recorded at 3779198.
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