Generic drugmaker Actavis Plc is planning to cut employees and expand in China, a Bloomberg report said citing an interview by Chief Executive Officer Brent Saunders on Bloomberg Television. However, the report did not say how many positions will be eliminated.Earlier in November, Botox maker Allergan Inc accepted a $66 billion takeover bid from Actavis, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.Brent Saunders had said in the interview that there are overlaps in corporate functions, including human relations and finance, the report noted. (bloom.bg/11QY3dX).Actavis was not immediately available for a comment.
Shares of ACT traded higher by 2.74% or $7.13/share to $266.88. In the past year, the shares have traded as low as $156.40 and as high as $270.34. On average, 2746420 shares of ACT exchange hands on a given day and today's volume is recorded at 4185398.
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 1.3% or $2.72/share to $211.81. In the past year, the shares have traded as low as $94.98 and as high as $214.20. On average, 2777070 shares of AGN exchange hands on a given day and today's volume is recorded at 4584079.
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 1.93% or $-2.81/share to $142.56. In the past year, the shares have traded as low as $105.17 and as high as $153.10. On average, 2663390 shares of VRX exchange hands on a given day and today's volume is recorded at 2950847.
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 1.44% or $-2.36/share to $161.02. In the past year, the shares have traded as low as $111.97 and as high as $170.45. On average, 492133 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 438357.
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