Canada's Valeant Pharmaceuticals International Inc said it may purchase back up to $2 billion worth of securities, replacing a previous $1.5 billion program under which it bought back no securities.The company said it could buy back senior notes, shares or other securities under the new program, which will begin on Nov. 21, the same day its old program ends.The announcement comes a few days after acquisition-hungry Valeant's $54 billion offer to buy Botox maker Allergan Inc was trumped by Actavis Plc's $66 billion bid, ending a seven-month hostile pursuit by the Canadian company."Valeant's board of directors believes that the proposed purchases are in the best interests of the company and are a desirable use of corporate funds," the company said in a statement on Thursday.
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 1.19% or $-2.53/share to $210.06. In the past year, the shares have traded as low as $94.98 and as high as $214.20. On average, 2677680 shares of AGN exchange hands on a given day and today's volume is recorded at 3281176.
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 0.18% or $0.25/share to $142.72. In the past year, the shares have traded as low as $105.17 and as high as $153.10. On average, 2643360 shares of VRX exchange hands on a given day and today's volume is recorded at 1406164.
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 0.27% or $-0.44/share to $161.26. In the past year, the shares have traded as low as $111.85 and as high as $170.45. On average, 484543 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 210246.
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