Company Overview and News
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When Valeant Pharmaceuticals (VRX) reports quarterly earnings on Feb. 28 before the market opens, shareholders will look for more data points pointing to revenue stabilization and even growth in its core businesses. Markets are on the fence with the stock. After its last earnings report, investors bid the stock to as high as $24.43, up from below $12. Yet after a strong reception for its debt offering in Dec. (29-0)
This article is part of a series that provides an ongoing analysis of the changes made to John Paulson’s US stock portfolio on a quarterly basis. It is based on Paulson’s regulatory 13F Form filed on 02/14/2018. Please visit our Tracking John Paulson’s Paulson & Company Portfolio series to get an idea of his investment philosophy and our previous update for the fund’s moves during Q3 2017. (1077-8)
Novartis shows duration of effect and improved quality of life in patients with psoriasis using Cosentyx over a 5-year period. (7-0)
The US activist investor that agitated for change at Rolls Royce and Microsoft has become the third largest shareholder in Legoland owner Merlin Entertainments. (13-0)
Soros's 13F portfolio value increased from $4.20B to $4.37B this quarter. The number of positions decreased from 227 to 196. (781-16)
After the worst financial collapse since the Great Depression, three officials from the Financial Crisis Inquiry Commission visited Warren Buffett at his office in Omaha, Nebraska. They wanted to ask America’s most successful investor about his 24 million shares in the credit-rating agency Moody’s. The commission would later identify Moody’s and other rating agencies as “key enablers of the financial meltdown,” for granting super-safe triple-A ratings to securities that were backed by junk mortgages. (72-0)
Today we will focus on Achaogen (AKAO), which got a slight boost after Tetraphase Pharma’s (TTPH) drug failed to beat ertapenem in a late-stage cUTI study. (426-3)
For most people, mattresses are boring, essential household items and selling them is hardly a glamorous business either. You would probably not expect to uncover one of the largest frauds of the past decade studying a mattress firm. (1-0)
The market has been a roller coaster for investors so far in February which major daily moves throughout the month. (73-5)
Valeant Pharmaceuticals (VRX) is a specialty pharmaceutical company involved in the development, manufacture, and marketing of branded, generic, branded generic as well as over the counter products. The company is also into medical devices, including contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices. (11-0)
I’m on the road again visiting universities, attending select conferences and forums and speaking to groups of all kinds. If you would like me to visit your university and your accounting/audit program, please write soon to lock in upcoming dates. (16-0)
Bill Ackman has made his latest bet – picking Nike as the savior for the Pershing Square hedge fund. Pershing was down 4% in 2017, after falling 20% in 2015 and 13% in 2016. Nike has boosted the fund up for a bit, but again, perhaps Ackman is late to the party. Or, has Ackman learned to stay away from controversial investments after getting taken to task by Chipotle, Herbalife and Valeant Pharmaceuticals. (1-0)
Fitbit Inc. shares gained 0.9% after the company announced that it was expanding the app offerings for its Ionic smartwatch. The watch will support four new apps, including Etrade and the New York Times, starting Tuesday. By the end of the year, the company will introduce six others, including TripAdvisor and United Airlines. Fitbit's Ionic watch first went on sale in October with a limited set of app offerings. (64-0)
Last week's 4% drop in the markets will catch perma-bulls off guard for good reason: the market did not have any major correction in nearly two years. On its steep journey up, the S&P 500 (SPY) Index fell just three times since 2015. After breaking out of its range at the end of 2016, the index rose around 35% and never looked back. So those who never experienced a correction will get nervous over the weekly drop that threatens to erase 2018's gains. (12-0)
2017 turned out to be a notable year for the pharma and biotech industry with the FDA giving its nod to 46 novel drugs as well as several biological license applications (“BLA”) including for path-breaking cancer treatments like Kymriah and Yescarta. This number compares favorably not only to 2016 when just 22 novel drugs were approved, but to earlier years as well. Other key approvals last year include Lilly’s Verzenio (advanced or metastatic breast cancer), Gilead’s Vosevi (hepatitis C virus), Puma’s Nerlynx (to reduce the risk of breast cancer returning), J&J’s Tremfya (moderate-to-severe plaque psoriasis), Regeneron/Sanofi’s Kevzara (rheumatoid arthritis), Roche’s multiple sclerosis treatment, Ocrevus, Regeneron (REGN - Free Report) and Sanofi’s eczema treatment, Dupixent, Tesaro’s PARP inhibitor, Zejula, and BioMarin’s (BMRN - Free Report) Brineura (treatment of a specific form of Batten disease) among others. (205-0)
VRX: Valeant Pharmaceuticals International Stock Analysis and Research Report
Valeant Pharmaceuticals International, Inc. is a multinational, specialty pharmaceutical and medical device company that develops, manufactures, and markets a broad range of branded, generic and branded generic pharmaceuticals, over-the-counter (“OTC”) products and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices), which are marketed directly or indirectly in over 100 countries. We are diverse not only in our sources of revenue from our broad drug and medical device portfolio, but also among the therapeutic classes and geographies we serve. We generated revenues of $4,342 million and $4,792 million for the six months ended June 30, 2017 and 2016, respectively. Our portfolio of products falls into three reportable segments: (i) Bausch + Lomb/International, (ii) Branded Rx and (iii) U.S. Diversified Products.
- The Bausch + Lomb/International segment consists of: (i) sales in the U.S. of pharmaceutical products, OTC products a...