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Monday, November 17, 2014

Valeant says can't justify matching Actavis bid for Allergan, (NYSE: AGN), (NYSE: VRX), (TSE: VRX.TO)

Valeant Pharmaceuticals International Inc Chief Executive Michael Pearson said on Monday that the company can't justify matching Actavis Plc's $219 per share bid for Allergan Inc. Allergan agreed to be bought by Actavis for $66 billion, more than $12 billion above the current value of a hostile bid by activist investor William Ackman and Valeant.

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 6.83% or $13.565/share to $212.22. In the past year, the shares have traded as low as $94.98 and as high as $200.99. On average, 2296180 shares of AGN exchange hands on a given day and today's volume is recorded at 2221890.

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 0.11% or $-0.15/share to $134.06. In the past year, the shares have traded as low as $105.17 and as high as $153.10. On average, 2526030 shares of VRX exchange hands on a given day and today's volume is recorded at 745914.

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 0.35% or $0.53/share to $152.00. In the past year, the shares have traded as low as $110.26 and as high as $170.45. On average, 468460 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 31349.



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