Botox maker Allergan Inc has approached Salix Pharmaceuticals Ltd and at least one other company about a potential takeover in a bid to avert the $53 billion hostile takeover from Valeant Pharmaceuticals International Inc, the Wall Street Journal said. Allergan and Salix failed to comment on the matter.Shares of Salix, which itself is in the process of merging with a unit of Swiss-listed Cosmo Pharmaceuticals, jumped about 10 percent on Tuesday.It isn't clear where any talks with Salix stand, but one of the sources said Allergan could strike a takeover deal with the company or another unknown party as early as next month, Journal said. (on.wsj.com/Xy8EJx)Raleigh, North Carolina-based Salix makes products used to prevent or treat gastrointestinal disorders. So far, it has generated sales of $766.4 million this year.
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 2.15% or $3.34/share to $158.95. In the past year, the shares have traded as low as $86.95 and as high as $174.49. On average, 2792390 shares of AGN exchange hands on a given day and today's volume is recorded at 1379036.
Salix Pharmaceuticals, Ltd. is a specialty pharmaceutical company dedicated to acquiring, developing and commercializing prescription drugs and medical devices used in the treatment of a variety of gastrointestinal disorders, which are those affecting the digestive tract. Shares of SLXP traded higher by 9.92% or $13.8/share to $152.97. In the past year, the shares have traded as low as $64.93 and as high as $141.81. On average, 1144910 shares of SLXP exchange hands on a given day and today's volume is recorded at 3884190.
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 2.07% or $2.27/share to $112.05. In the past year, the shares have traded as low as $95.28 and as high as $153.10. On average, 3288960 shares of VRX exchange hands on a given day and today's volume is recorded at 2012112.
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 2.55% or $3.05/share to $122.64. In the past year, the shares have traded as low as $99.90 and as high as $170.45. On average, 360333 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 207593.
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