Botox maker Allergan Inc said on Thursday it expects to report third-quarter profit that is more than 20 percent higher than it previously anticipated, which it said bolsters its contention that an unsolicited takeover offer by Valeant Pharmaceuticals Inc undervalues the company.Allergan shares were up 0.3 percent at $191.09 on Thursday morning, building slightly on gains made this week after Reuters reported that the company is also a target of Actavis Plc .Valeant and Pershing Square Capital Management were also preparing to raise their bid this week, Reuters and other news organizations reported, which has also boosted shares.Allergan stock has gained about 15 percent since Sept. 22 when Reuters and others cited unnamed sources saying the company was considering a possible acquisition of Salix Pharmaceuticals . Those merger discussions have since dropped off, sources have said.
Shares of ACT traded higher by 0.12% or $0.29/share to $246.94. In the past year, the shares have traded as low as $138.80 and as high as $249.94. On average, 2222910 shares of ACT exchange hands on a given day and today's volume is recorded at 478738.
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 0.26% or $-0.5/share to $190.00. In the past year, the shares have traded as low as $88.34 and as high as $190.72. On average, 2093500 shares of AGN exchange hands on a given day and today's volume is recorded at 1080936.
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