Valeant Pharmaceuticals Intl Inc (NYSE: VRX)
Valeant Pharmaceuticals is having a strong day in the market today. Let’s face it, it’s much needed since the stock has been falling for around a year now on the Philidor Scandal. Nonetheless, we are seeing some good news today. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to VRX ahead.
What We’re Seeing From VRX
As mentioned above, today’s trading session is off to a relatively good start for Valeant Pharmaceuticals. At the open of the market, the stock was in the red. However, it quickly made its way into the green, where it has held its position, for the most part. At the moment (10:34), VRX is trading at $18.18 per share after a gain of $0.19 per share (1.08%) thus far today.
Why We’re Seeing The Move Upward
As soon as we noticed that VRX was holding decent gains, the CNA Finance team started digging to see exactly what was going on behind the curtain. It didn’t take long to dig a positive story up, either; however, that story is based in rumor. Nonetheless, it’s an interesting one, and, if it pans out to be true, Valeant Pharmaceuticals could see some decent upward movement.
At the moment, the social space is lighting up with rumors regarding the eye surgery assets that VRX is in the process of selling. According to the rumors, Allergan and TPG are considering making a bid for the assets. At the end of the day, the rumor definitely isn’t far-fetched, as both Allergan and TPG would have quite a bit to benefit from the acquisition of these assets.
What We’ll Be Watching For Ahead
Moving forward, there’s quite a bit we’ll be watching for. In the short and mid term, we’ll be watching for the sale of assets and how well VRX prices and negotiates these sales. Longer term, we’re keeping a close eye on the scandal, as the full brunt of legal action is far from dealt out. Nonetheless, this will be an interesting stock to follow as we move forward, and we’ll bring you the news as soon as we dig it up!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of FreeStockPhotos.biz]