Tag: valeant
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Regeneron CEO says Amgen not putting patients first in patent dispute
A federal judge last week handed Regeneron and its partner Sanofi a stunning setback by banning sales of their LDL-lowering medicine Praluent, finding it infringed patents held by Amgen on its Repatha cholesterol drug. Regeneron and Sanofi were given 30 days before the ban takes effect to give them time to appeal.
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California Republican challenges state’s hiring of Eric Holder to fight Trump policies
By Sharon Bernstein SACRAMENTO, Calif. (Reuters) – A California Republican state lawmaker is challenging the legality of a move by Democrats in the legislature to hire former U.S. Attorney General Eric Holder to help in any legal battles with President-elect Donald Trump's administration. Assembly member Kevin Kiley has requested a formal ruling from state lawyers…
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Valeant adjusted profit misses estimates; FY forecast cut
(Reuters) – Valeant Pharmaceuticals International Inc reported a smaller-than-expected quarterly adjusted profit due to faltering sales of its dermatology products and irritable bowel syndrome drug, and the company cut its full-year profit and revenue forecasts. Valeant's U.S.-listed shares fell more than 10 percent in premarket trading on Tuesday. Up to Monday's close of $19.13, the…
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Valeant adjusted profit misses estimates; FY forecast cut
(Reuters) – Valeant Pharmaceuticals International Inc reported a smaller-than-expected quarterly adjusted profit due to faltering sales of its dermatology products and irritable bowel syndrome drug, and the company cut its full-year profit and revenue forecasts. Valeant's U.S.-listed shares fell more than 10 percent in premarket trading on Tuesday. Up to Monday's close of $19.13, the…
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Allergan expands buyback to $15 billion, sets first quarterly dividend
The drugmaker said it was initiating a regular quarterly cash dividend of 70 cents per share. The company was created when Dublin-based Actavis bought the Botox maker in March 2015, snatching it from hostile bidder Valeant Pharmaceuticals Inc , and taking on the Allergan name. Allergan Chief Executive Brent Saunders has orchestrated a string of…
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SEC raises concerns about Valeant’s use of ‘Non-GAAP’ measures
The SEC has questioned Valeant's practice of stripping away acquisition-related expenses from its “non-GAAP” or adjusted metrics, given that the drugmaker had been fueling growth through frenzied deal making. In multiple letters, the SEC said Valeant's management is in possession of all the facts and urged for adequate and accurate financial disclosures. “We are concerned…
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Valeant gets additional notices of default from bondholders
The notices do not accelerate its indebtedness, the company said. The Quebec-based drugmaker said last week it had received a notice of default from its bondholders. The company has since received an extra month from its lenders to file the annual report.
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Exclusive: Makers took big price increases on widely used U.S. drugs
By Caroline Humer NEW YORK (Reuters) – Major drug companies took hefty price increases in the U.S., in some cases more than doubling listed charges, for widely used medications over the past five years, a Reuters analysis of proprietary data found. Together, the price increases on drugs for arthritis, high cholesterol, asthma and other common…
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Valeant cuts 2016 forecasts, says report delay poses default risk
The Canadian drugmaker, the target of U.S. investigations into its business and accounting practices, reiterated that it would delay filing its annual report with U.S. regulators but for the first time raised the specter of a default as a result. As of Sept. 30, Valeant had about $30 billion of long-term debt. The company said…
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Valeant cuts 2016 forecasts, says report delay poses default risk
The Canadian drugmaker, the target of U.S. investigations into its business and accounting practices, reiterated that it would delay filing its annual report with U.S. regulators but for the first time raised the specter of a default as a result. As of Sept. 30, Valeant had about $30 billion of long-term debt. The company said…