Actavis PLC

Glenview Capital Management added a new position in Danaher Corp. (DHR) in the third quarter. The position accounted for 1.99% of the fund’s total portfolio.

Lone Pine initiated a new position in Equinix (EQIX) last quarter that accounts for 1.81% of the fund’s total 1Q portfolio. Lone Pine had exited the position in 4Q 2013 and restarted it last quarter.

Over the last several years, patent cliffs have led to steep revenue losses for traditional pharmaceuticals as well as created a gateway for smaller companies to come to market with generics.

As it is still relatively difficult to introduce biosimilars, Amgen plans to enter the US market by leveraging experience of biosimilars in the European market.

In October 2012, Actavis completed the acquisition of Actavis Group. In 2013, the company’s revenues outside the US increased to 29% from 16% in 2012.

Valuation reflects the market’s perceptions of the industry’s growth prospects. The major value drivers for valuation are ROIC and the growth rate.

The global generics market was valued at $168 billion in 2013. From 2013 to 2018, it’s expected to grow at a CAGR of 11% to reach $283 billion.

Complex generics are large and complex formulations or active ingredients used to treat chronic and life threatening diseases like cancer, Hepatitis C, and HIV.

A generic company is rewarded for a Para IV filing. The first applicant to submit a substantially completed ANDA is given marketing exclusivity for 180 days.

Severe cost pressure can lead to the commoditization of generics. it’s important to adjust the value chain to achieve higher efficiencies, flexibility, and reliability.

The generics industry primarily caters to several large diseases in primary care. Healthcare is organized into three categories—primary, secondary, and tertiary.

Viking Global Investors is an US-based hedge fund. The total value of Viking Global’s US long portfolio decreased to $21.78 billion in 4Q14.

U.S. pharma giant Pfizer’s (PFE) second takeover proposal, of $106 billion (£64 billion), was rejected by Anglo-Swedish drug maker AstraZeneca (AZN) last week.