Canada's Valeant Pharmaceuticals International Inc, embroiled in a bitter battle to take over Botox-maker Allergan Inc, cut its full-year profit and revenue forecasts to reflect the sale of its rights to several skincare products.The company, which has grown swiftly through acquisitions, said it now expects 2014 cash earnings - or profit adjusted for one-time items, of $7.90-$8.10 per share - on revenue of $8 billion-$8.3 billion.Valeant said in April it expected cash earnings of $8.55-$8.80 per share on revenue of $8.3 billion-$8.7 billion.Valeant, which had revenue of $5.77 billion and cash earnings of $6.24 per share in 2013, sold rights to several injectable facial treatments to Swiss food group Nestle SA for $1.4 billion earlier this month.
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 traded higher by 0.74% or $1.27/share to $172.17. In the past year, the shares have traded as low as $86.95 and as high as $174.49. On average, 2963100 shares of AGN exchange hands on a given day and today's volume is recorded at 1454317.
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 1.72% or $2.13/share to $125.83. In the past year, the shares have traded as low as $91.00 and as high as $153.10. On average, 3052760 shares of VRX exchange hands on a given day and today's volume is recorded at 2579277.
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 2.36% or $3.17/share to $137.42. In the past year, the shares have traded as low as $97.00 and as high as $170.45. On average, 322241 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 276809.
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