Swiss food group Nestle accelerated a push into the fast-growing skincare market on Wednesday, buying the rights to several injectable treatments for facial wrinkles and lines from Valeant Pharmaceuticals International for $1.4 billion.The world's biggest food group, with brands including KitKat chocolate bars, Gerber baby food and Nescafe coffee, signalled its ambitions in skin health products in February by taking over the Galderma dermatology venture it had with L'Oreal.Wednesday's move gives Nestle the North American rights to some products taken on in that deal, boosting its control of the brands and avoiding the situation with KitKat, to which rival Hershey owns the rights in the United States.For Quebec-based Valeant, the cash deal clears a potential antitrust hurdle to its proposed $49 billion takeover of U.S. rival Allergan Inc, which makes Botox, used to treat conditions from frown lines to overactive bladder.
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN fell by 5.01% or $-8.265/share to $156.76. In the past year, the shares have traded as low as $81.33 and as high as $170.05. On average, 4210130 shares of AGN exchange hands on a given day and today's volume is recorded at 4798848.
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 fell by 4.71% or $-6.12/share to $123.83. In the past year, the shares have traded as low as $81.94 and as high as $153.10. On average, 2938120 shares of VRX exchange hands on a given day and today's volume is recorded at 2936460.
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 fell by 4.62% or $-6.52/share to $134.52. In the past year, the shares have traded as low as $83.39 and as high as $170.45. On average, 389198 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 145340.
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