Valeant Pharmaceuticals International Inc

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  • uploads///CBS
    Industrials

    John Paulson’s Paulson & Co. buys a new position in CBS in 1Q14

    Paulson initiated a new position in CBS Corp. (CBS) last quarter. The position accounts for 1.35% of Paulson’s $20 billion 1Q 2014 portfolio.

    By Samantha Nielson
  • uploads///EQIX
    Fund Managers

    JANA sells stake in Equinix

    JANA Partners sold a significant stake in Equinix (EQIX) during the fourth quarter. The position accounted for 3.38% of the fund’s third-quarter portfolio.

    By Samantha Nielson
  • uploads///Graph
    Company & Industry Overviews

    Valeant’s Dermatology Business Felt Pricing Pressure in 2016

    Dermatology pricing trends Valeant Pharmaceuticals’ (VRX) dermatology business witnessed intense pricing pressure in 2016, due to a change in the company’s distribution model in 4Q15. While Valeant previously marketed its dermatology drugs through specialty pharmacies, the company now distributes its products through Walgreens. To learn about the company’s current distribution model, please refer to How Valeant Plans […]

    By Margaret Patrick
  • uploads///Sucampo Revenue Growth
    Company & Industry Overviews

    Key Risks Facing Sucampo Pharmaceuticals in 2017

    Sucampo has taken on a significant level of debt. Its outstanding debt is ~$300 million. Its interest expense has increased from $6.8 million in 2015 to $23.7 million in 2016.

    By Kenneth Smith
  • uploads///Graph
    Company & Industry Overviews

    Siliq May be a Strong Growth Driver for Valeant in 2017

    Siliq growth trends On February 15, 2017, the FDA approved injectable biologic therapy Siliq (brodalumab) as a treatment option for moderate-to-severe plaque psoriasis patients. Siliq is for psoriasis patients eligible for systemic therapy or phototherapy, and are not responding sufficiently or have stopped responding to these treatment options. To learn more about Siliq, please refer to What Are […]

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    International Segment: Key Driver of VRX’s Revenue Growth in 2016

    In the first nine months of 2016, the Bausch + Lomb/International segment reported revenues of ~$3.4 billion, which equals year-over-year (or YoY) growth of ~0.4%.

    By Margaret Patrick
  • uploads///holdings in valeant
    Company & Industry Overviews

    What Does Valeant’s Institutional Ownership Look Like?

    Of its total outstanding shares, Valeant Pharmaceuticals’ (VRX) institutional ownership stood at 69.2%.

    By Jillian Dabney
  • uploads///MArket opportunity for Acthar
    Company & Industry Overviews

    Inside Mallinckrodt’s Major Valuation Catalysts

    Acthar is Mallinckrodt’s (MNK) leading product, and the company plans to achieve mid-single-digit to low-double-digit growth for the drug in fiscal 2016.

    By Jillian Dabney
  • uploads///Graph
    Company & Industry Overviews

    This Space Presents a Market Opportunity for Valeant

    In Valeant’s 2Q16 earnings, Xifaxan reported a year-over-year (or YoY) increase in monthly prescriptions of about 28.0%.

    By Margaret Patrick
  • uploads///Performance of Valeant Pharmaceuticals
    Fund Managers

    How Valeant Position Affected Pershing Square Capital Management

    Valeant Pharmaceuticals is currently trading at $23.05. Its 52-week high is $23.47 and 52-week low is $8.31.

    By Sarah Sands
  • uploads///segemnts and margins
    Company & Industry Overviews

    Yes, There Will Be Margin Erosion for Valeant in 2017

    Of its three businesses, Bausch & Lomb’s share in Valeant Pharmaceuticals’ (VRX) overall EBITA (earnings before interest, tax, and amortization) was 32%.

    By Jillian Dabney
  • uploads///SLXP VRX SLXP basics
    Miscellaneous

    The Salix–Valeant merger: Basics of Salix Pharmaceuticals

    Xifaxin is by far Salix’s largest product, accounting for ~70% of its revenues in 2013. Xifaxin is a big reason for the Salix–Valeant merger transaction.

    By Brent Nyitray, CFA, MBA
  • uploads///revenue ee
    Earnings Report

    How Did Valeant Fare in 2Q16?

    Valeant Pharmaceuticals (VRX) announced earnings for 2Q16 on August 9, 2016.

    By Jillian Dabney
  • uploads///featured image
    Company & Industry Overviews

    An Overview of Valeant Pharmaceuticals’ Performance in 1Q18

    Valeant Pharmaceuticals (VRX) announced that it would change its name to Bausch Health Companies, which is expected to be effective in July.

    By Daniel Collins
  • uploads///SLXP VRX SLXP at a glance
    Miscellaneous

    Parsing the Salix–Valeant merger MAC clause: Part 1

    In the deal between Salix Pharmaceuticals and Valeant, the MAC clause lays out the circumstances under which Valeant can back out of its deal with Salix.

    By Brent Nyitray, CFA, MBA
  • uploads///SLXP VRX GI
    Miscellaneous

    Parsing the Salix–Valeant merger MAC clause: Part 2

    Pretty much anything that has a material adverse effect on the company will be considered a MAC, but there will be exceptions to that rule.

    By Brent Nyitray, CFA, MBA
  • uploads///PSH
    Fund Managers

    4Q14 Updates to Pershing Square Holdings

    Pershing Square Holdings filed its fourth quarter 13F last month. The fund’s US long portfolio rose to $16.04 billion, from $13.4 billion in 4Q14.

    By Samantha Nielson
  • uploads///Dupixent
    Company & Industry Overviews

    Regeneron’s Dupixent Approved for Atopic Dermatitis

    In March 2017, the US Food and Drug Administration (FDA) approved Sanofi’s (SNY) and Regeneron Pharmaceuticals’ (REGN) Dupixent (dupilumab) for the treatment of individuals with moderate-to-severe atopic dermatitis.

    By Daniel Collins
  • Financials

    Why the federal budget deficit is returning to normal levels

    This article considers the ongoing decline in the federal budget deficit and considers the implication for fixed income investors.

    By Marc Wiersum, MBA
  • uploads///ANR
    Company & Industry Overviews

    What Do Analysts Recommend for Valeant after Recent Happenings

    The consensus 12-month target price for Valeant Pharmaceuticals is $36, which translates to a ~77.3% return potential compared to Valeant’s closing price of $20.3 on November 2, 2016.

    By Jillian Dabney
  • uploads///generics
    Earnings Report

    Inside the Double-Digit Fall for Mallinckrodt’s Specialty Generics Business in 2016

    Specialty Generics’ contribution to Mallinckrodt’s net sales fell by 18% to $1 billion in 2016. The business had a 31% share in total net sales in 2016.

    By Jillian Dabney
  • uploads///VRX
    Fund Managers

    Point72 Reduces Its Stake in Valeant Pharmaceuticals

    Point72 reduced its stake in Valeant Pharmaceuticals by selling 924,400 shares. It held 132,300 Valeant shares. Valeant accounted for 0.13% of the fund’s 4Q14 portfolio.

    By Diana Key
  • uploads///BHI
    Fund Managers

    ValueAct Capital discloses activist stake in Baker Hughes

    Activist hedge fund ValueAct Capital declared a 5.1% stake in Baker Hughes in its 13D filing on January 15, 2015.

    By Diana Key
  • uploads///salix
    Company & Industry Overviews

    What Might Have Fueled Valeant’s Interest in Salix?

    The gastrointestinal (or GI) drug market in the United States is expected to grow at a CAGR of 5.0% over a five-year period from 2014 to 2019.

    By Jillian Dabney
  • Consumer

    Flight from quality and duration: Going to Vegas with SNLN and BKLN

    Ultra-short duration: Avoiding losses in a rising rate environment The below graph reflects changes in popular fixed income ETFs since the 2008 crisis. As the bond market rally has softened and interest rates have risen, longer-duration bonds, as reflected in the iShares Core Total U.S. Bond Market ETF (AGG), with a duration of 5.11 years, […]

    By Marc Wiersum, MBA
  • uploads///SLXP VRX SLXP products
    Miscellaneous

    The Salix–Valeant merger MAC clause: Part 3

    If these carve-outs affect Salix in a disproportionate way compared to other pharma companies, then it is still a MAC and Valeant can back out of the deal.

    By Brent Nyitray, CFA, MBA
  • uploads///Recent wins
    Earnings Report

    Brodalumab, Oral Relistor among Valeant’s Recent Wins

    Valeant’s (VRX) recent wins include the FDA’s advisory committee vote in favor of approving brodalumab for the indication of mild to moderate psoriasis.

    By Jillian Dabney
  • uploads///WFT
    Energy & Utilities

    Point72 raises its position in Weatherford International

    Point72 Asset Management, previously SAC Capital, added to its position in Weatherford International (WFT) in 2Q 2014. The position accounts for 1.03% of the fund’s 2Q portfolio, up from 0.55% in 1Q14.

    By Samantha Nielson
  • uploads///Chart  NVO
    Miscellaneous

    Performance of Novo Nordisk Stock in 2Q17

    Novo Nordisk (NVO) stock has risen ~18.6% in 2Q17. It has risen ~16.9% year-to-date as of July 7, 2017.

    By Mike Benson
  • uploads///long term debt
    Company & Industry Overviews

    Will Valeant be Able to Manage Its Huge Debt?

    With its acquisitions, Valeant’s long-term debt kept on swelling until it reached $30.2 billion at the end of 4Q15. It plans to repay $1.7 billion in 2016.

    By Jillian Dabney
  • uploads///Valeant
    Fund Managers

    What Bill Miller Thinks about Valeant Pharmaceuticals

    According to Bill Miller, Valeant Pharmaceuticals (VRX) is correctly valued.

    By Sarah Sands
  • uploads///FDO
    Technology & Communications

    Why did Paulson & Co. sell its Family Dollar Stores stake?

    Paulson reduced its position in Family Dollar Stores (FDO) last quarter. The position now accounts for 1.84% of Paulson’s $20 billion 1Q 2014 portfolio, down from 3.12% in 4Q 2013.

    By Samantha Nielson
  • uploads///ALSN
    Consumer

    ValueAct raises its position in Allison Transmission Holdings

    Allison Transmission posted a 19% increase in net sales in 3Q14, to $553 million. This increase was partially offset by previously confirmed reductions in US defense spending.

    By Samantha Nielson
  • uploads///AWI
    Consumer

    ValueAct gets seat on Armstrong World Industries’ board

    While Armstrong’s 3Q14 results beat estimates, its consolidated net sales fell slightly compared to 3Q13, due to lower volumes in Europe and lower sales of resilient and wood flooring in the Americas.

    By Samantha Nielson
  • uploads///COL
    Financials

    ValueAct Capital lowers stake in Rockwell Collins

    Rockwell Collins Inc. is a leader in the design, production, and support of communications and aviation electronics for commercial and military customers worldwide.

    By Samantha Nielson
  • uploads///MSI
    Financials

    ValueAct Capital sells shares in Motorola Solutions

    ValueAct Capital lowered its position in MSI. An amended 13D filing in November noted that the fund owns 17,588,576 shares. This is down from 28,907,623 shares.

    By Samantha Nielson
  • uploads///cecaecfedded
    Consumer

    Carl Icahn Wouldn’t Invest in Valeant, although Bill Ackman Holds $567 Million in It

    In August 2015, VRX stock was at its historic peak of over $250. It is now below $25, as the stock has lost over 90% in the past year.

    By Surbhi Jain
  • uploads///DRC
    Industrials

    ValueAct Capital lowers stake in Dresser-Rand before merger deal

    ValueAct Capital lowered its position in Dresser-Rand Group (DRC). An amended 13D filing in July noted that the fund owns 2,004,462 shares.

    By Samantha Nielson
  • uploads///medicine _
    Company & Industry Overviews

    Analyst Recommendations for Valeant Pharmaceuticals in July

    In July, the FDA accepted Bausch + Lomb’s NDA (New Drug Application) for sub-micron loteprednol etabonate.

    By Daniel Collins
  • uploads///Xifaxan
    Company & Industry Overviews

    How Valeant’s Xifaxan and Other Branded Drugs Performed in 1Q18

    In 1Q18, Xifaxan reached blockbuster drug status.

    By Daniel Collins
  • uploads///solodyn
    Company & Industry Overviews

    Teva’s Recent Launch of Generic Solodyn: What You Need to Know

    On February 20, 2018, Teva Pharmaceutical announced the US launch of the generic version of Solodyn Extended Release tablets in two strengths.

    By Sarah Collins
  • uploads///valeants top  drugs
    Company & Industry Overviews

    How the Market Reacted to Teva’s Pricing of Its Generic Syprine

    On February 9, 2018, Teva Pharmaceuticals (TEVA) announced the US launch of its generic version of 250 mg Syprine capsules.

    By Sarah Collins
  • uploads///VRX revenue
    Company & Industry Overviews

    A Deeper Look at Valeant Pharmaceuticals’ Recent Financial Performance

    In 3Q16, Valeant Pharmaceuticals (VRX) generated revenues of $2.4 billion, compared with $2.2 billion in 3Q17.

    By Kenneth Smith
  • uploads///VRX divestments
    Company & Industry Overviews

    Inside Valeant Pharmaceuticals’ Recent Divestments

    Valeant Pharmaceuticals (VRX) was granted the worldwide exclusive licensing rights for manufacturing and selling the EyeGate 2 delivery system.

    By Kenneth Smith
  • uploads///VRX analysts reco
    Company & Industry Overviews

    Valeant Pharmaceuticals on the Street: Analyst Ratings This February

    Of the seven analysts covering Valeant Pharmaceuticals in February 2018, two analysts have given the stock a “buy” or higher rating.

    By Kenneth Smith
  • uploads///Alcon
    Company & Industry Overviews

    What to Expect for Novartis’s Subsidiary Alcon in 2018

    In 1Q17, 2Q17, and 3Q17, Novartis’s (NVS) subsidiary Alcon generated revenues of $1.4 billion, $1.5 billion, and $1.5 billion, respectively.

    By Daniel Collins
  • uploads///Analysts Ratings
    Company & Industry Overviews

    Valeant on the Street: Analyst Recommendations in December 2017

    Of the 19 analysts tracking Valeant Pharmaceuticals in December 2017, two recommended a “strong buy,” while another two of recommended a “buy.”

    By Daniel Collins
  • uploads///Performances of SP  Index and Pershing Square Capital
    Consumer

    Why Bill Ackman’s Pershing Square Had a Rough 2017

    Bill Ackman’s Pershing Square Capital Management saw negative returns in 2017 for the third consecutive year.

    By Sarah Sands
  • uploads///Branded Rx prod
    Company & Industry Overviews

    Behind Valeant’s Branded Drugs: Other 3Q17 Performances

    In 3Q17, Valeant’s (VRX) Arestin reported revenues of $26 million, which was ~7% lower on a YoY (year-over-year) basis and 7% lower quarter-over-quarter.

    By Daniel Collins
  • uploads///BL top products
    Company & Industry Overviews

    How Did Bausch + Lomb’s Top Products Perform in 3Q17?

    In 3Q17, Valeant Pharmaceuticals’ Bausch + Lomb’s Soflens generated revenues of $83 million, which was ~5% higher on a YoY basis and ~9% higher QoQ.

    By Daniel Collins
  • uploads///Vision care
    Company & Industry Overviews

    Inside Johnson & Johnson’s Vision Care Performance in 3Q17

    In 3Q17, JNJ vision care generated revenues of $1.1 billion, which reflected a ~48% YoY (year-over-year) rise and a 3% QoQ (quarter-over-quarter) rise.

    By Daniel Collins
  • uploads///Sucampo Revenue Growth
    Company & Industry Overviews

    The Financial Performance of Sucampo Pharmaceuticals

    Sucampo Pharmaceuticals (SCMP) generated revenues of $61.2 million in 3Q17 compared with $57 million in 3Q16.

    By Kenneth Smith
  • uploads///VTS
    Company & Industry Overviews

    Sucampo Pharmaceuticals’ Amitiza: Its Competitive Landscape

    In the branded prescription category, Amitiza competes with Ironwood Pharmaceuticals (IRWD) and Allergan’s (AGN) Linzess.

    By Kenneth Smith
  • uploads///Siliq
    Company & Industry Overviews

    Valeant Pharmaceuticals’ Siliq Approved for Plaque Psoriasis

    In February 2017, the FDA (Food and Drug Administration) approved Valeant Pharmaceuticals’ (VRX) Siliq injection for the treatment of adults with moderate to severe plaque psoriasis.

    By Daniel Collins
  • uploads///Xifaxan
    Company & Industry Overviews

    Valeant Pharmaceuticals’ Xifaxan and Apriso

    In 1H17, Valeant Pharmaceuticals’ (VRX) Xifaxan reported revenues of $418.0 million compared to $408.0 million in 1H16.

    By Daniel Collins
  • uploads///Chart  Rev
    Earnings Report

    GlaxoSmithKline’s 1Q17 Earnings Surpass Analysts’ Estimates

    GlaxoSmithKline (GSK) reported revenue growth of 19% to 7.4 billion pounds in 1Q17.

    By Mike Benson
  • uploads///Chart  Revenue
    Earnings Report

    GlaxoSmithKline’s 1Q17 Estimates: Revenues Expected to Grow

    Analysts expect ~16.5% growth in GlaxoSmithKline’s (GSK) 1Q17 revenues to ~7.3 billion pounds following strong product launches, acquired products from Novartis (NVS), and improvement in the supply chain.

    By Mike Benson
  • uploads///Graph
    Company & Industry Overviews

    Novartis Expects to Restore Alcon’s Profitability in the Future

    Novartis (NVS) has focused its efforts on improving its customer service levels and entering into lucrative partnering deals to boost profitability for its Alcon business.

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Will Novartis’s Alcon Business See Growth in 2017?

    Novartis (NVS) expects its Alcon business to report low-single-digit revenue growth in 2017.

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Vyzulta May Be a Potent Therapy for Glaucoma in the Future

    Vyzulta growth trends On February 24, 2017, Valeant Pharmaceuticals (VRX) refiled its application with the FDA, seeking regulatory approval for Vyzulta (latanoprostene bunod) as a therapy for open-angle glaucoma patients. On July 22, 2016, the company announced that it had received a complete response letter (or CRL) from the FDA related to a previously filed application […]

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Bausch & Lomb Continues to be Key Growth Driver for Valeant

    Bausch & Lomb projections Valeant Pharmaceuticals expects its Bausch & Lomb/International segment to grow at a CAGR (compound average growth rate) of 4%–6% between 2017 and 2020. In 2017, the company expects the segment to grow 5%–7% after adjusting for foreign exchange fluctuations and the impact of impending patent expiries. In 2017, the segment is also expected […]

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Valeant Pharmaceuticals is Developing its Sales Force

    Sales force development In 1Q17, Valeant Pharmaceuticals (VRX) had 40% more sales personnel to promote its gastrointestinal franchise than it did in 1Q16. This was a result of the company’s efforts to control attrition. The above diagram shows that Valeant managed to reach a sales force retention rate of 94% in 4Q16. While there was increased […]

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    New Product Launches May Boost Valeant’s Dermatology Revenue

    New product launches Despite upcoming patent expirations for drugs Elidel, Solodyn, and Acanya in 2018, and Zyclara in 2019, Valeant Pharmaceuticals (VRX) expects to boost its dermatology revenue after 2018 through new product launches. On December 12, 2016, the company hired Bill Humpries as executive vice president and head of the dermatology team. The change […]

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Xifaxan Expected to Witness Robust Growth in 2017

    Gastrointestinal business In 2016, Valeant Pharmaceuticals’ (VRX) gastrointestinal (or GI) franchise saw its revenue fall due to the loss of patent protection for drugs Zegerid and Glumetza in the US market. Furthermore, the authorized generic version of Zegerid was transferred from Valeant’s Branded Rx segment to the Diversified Products segment. However, these negative trends were […]

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Valeant’s Net Profit Margins Expected to Narrow in 2017

    Net profit margins Valeant Pharmaceuticals (VRX) has projected its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) to fall $3.6 billion–$3.7 billion. Besides lower revenue, the company will also have to bear $1.9 billion in cash interest in 2017, which includes $100 million in amortized deferred financing costs. Wall Street analysts have projected that […]

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Valeant Pharmaceuticals Could See Modest Revenue Decline in 2016

    In 3Q16, Valeant Pharmaceuticals (VRX) revised its fiscal 2016 revenue guidance downward from $9.9 billion–$10.1 billion to ~$9.6 billion to ~$9.7 billion. In 2016, VRX suffered from talent retention issues, negative press coverage, and litigation.

    By Margaret Patrick
  • uploads///operating segments
    Earnings Report

    How Did Mallinckrodt’s Specialty Brands Perform in 2016?

    Specialty Brands had a 69% in Mallinckrodt’s total revenue in 2016, while Specialty Generics had a 31% share.

    By Jillian Dabney
  • uploads///revenue
    Earnings Report

    Mallinckrodt’s Revenue Growth in Fiscal 4Q16

    On an annual basis, MNK’s net sales soared by 16% to $3.4 billion in 2016. Despite its better-than-estimated performance, shares fell by 9% on November 29.

    By Jillian Dabney
  • uploads///salix portfolio
    Company & Industry Overviews

    Valeant’s Salix Acquisition Saga

    Valeant won the acquisition race for Salix by valuing it at $14.5 billion, inclusive of net debt. In April 2015, Valeant paid $158 per Salix share.

    By Jillian Dabney
  • uploads///Graph
    Company & Industry Overviews

    Valeant Looks to Boost Profit Margins through the Walgreens Deal

    On December 15, 2015, Valeant Pharmaceuticals (VRX) announced its decision to enter into a fulfillment agreement with Walgreens.

    By Margaret Patrick
  • uploads///USAA International Fund
    Company & Industry Overviews

    What Explains an Average YTD 2016 for the USAA International Fund?

    The USAA International Fund (USIFX) is right in the middle of the pack as far as its point-to-point returns for YTD 2016 are concerned—it is placed sixth.

    By David Ashworth
  • uploads///nitropress and isuprel
    Company & Industry Overviews

    The Facts behind the Valeant Drug Pricing Controversy

    Valeant Pharmaceuticals International (VRX) significantly raised the prices of two of its heart drugs—Nitropress and Isuprel—which caused a controversy and an outrage.

    By Jillian Dabney
  • uploads///operating expenses
    Earnings Report

    What’s behind Valeant’s Operating Expenses?

    Valeant’s major operating expenses include cost of sales, SG&A (selling, general, and administrative) expenses, and R&D (research and development) costs.

    By Jillian Dabney
  • uploads///Ophthal eye care
    Company & Industry Overviews

    Valeant’ Eye Health and Consumer-Oriented Portfolios

    Valeant’s eye health products serve a wide range of eye disorders such as glaucoma, eye allergies, conjunctivitis, dry eye, and retinal diseases.

    By Jillian Dabney
  • uploads///global brands
    Company & Industry Overviews

    What Happened in the Valeant-Philidor Controversy?

    Valeant’s (VRX) controversies started with Philidor, a specialty pharmacy company that was accused of altering doctor’s prescriptions so it could sell more of Valeant’s costly drugs.

    By Jillian Dabney
  • uploads///narcolepsy
    Company & Industry Overviews

    Can Xyrem Maintain Leadership in the Narcolepsy Space?

    Jazz Pharmaceuticals’ (JAZZ) Xyrem is a drug for cataplexy and excessive daytime sleepiness occurring in patients with narcolepsy, a serious orphan disease.

    By Jillian Dabney
  • uploads///acquisitions
    Company & Industry Overviews

    How Horizon Became a Growth Stock

    Over the past 18 months, Horizon Pharma has acquired three orphan drugs. The acquisition of Hyperion Therapeutics in May 2015 gave it Ravicti and Buphenyl.

    By Jillian Dabney
  • uploads///Jublia
    Company & Industry Overviews

    Behind Valeant’s Significant Drop in Jublia Sales

    In 4Q15, Jublia added $68 million to the top line of Valeant—the sixth-largest revenue contributor in 4Q15, down from the second-largest in 3Q15.

    By Jillian Dabney
  • uploads///Part  Graph
    Company & Industry Overviews

    How Have XLV’s Large-Caps Performed?

    XLV has 49 large-cap stocks in its holdings, with a combined market cap of more than $10 billion. Among them, 47 stocks fell on March 15, 2016.

    By Peter Neil
  • uploads///Guidance for
    Earnings Report

    Expectations for Valeant Pharmaceuticals in 2016

    Valeant Pharmaceuticals (VRX) expects 2016 revenues to be $12.5–12.7 billion, up by 21%. In January 2016, the company launched its Valeant Access Program in partnership with Walgreens.

    By Jillian Dabney
  • uploads///Jublia revenue
    Earnings Report

    Jublia: Valeant’s Major Drug in Its Dermatology Portfolio

    Revenue from Jublia amounted to $106 million, or 3.8%, of Valeant Pharmaceuticals’ (VRX) total revenue for 3Q15. At peak sales, Valeant expects Jublia to generate $300–$800 million.

    By Jillian Dabney
  • uploads///ANR
    Earnings Report

    Valeant Pharmaceuticals: The Expectations for 4Q15 Earnings

    Valeant Pharmaceuticals’ (VRX) estimated consensus 12-month target price is $152.10. This translates to a 66.2% return compared to its closing price of $91.50 on February 2, 2016.

    By Jillian Dabney
  • uploads///Business Model
    Company & Industry Overviews

    Mylan’s Business Model: A Key Investor Rundown

    In 2014, Mylan earned about 85% of its total revenues from the US generic market, which is the largest generic market in the world.

    By Seth Richards
  • uploads///Graph
    Company & Industry Overviews

    How One-Time Events Could Impact Valeant’s Performance in 4Q15

    The separation from Philidor has resulted in a negative revenue impact of $250 million for Valeant Pharmaceuticals.

    By Margaret Patrick
  • uploads///Graph
    Company & Industry Overviews

    Why Valeant Pharmaceuticals Lowered Its Guidance for 4Q15

    Valeant Pharmaceuticals (VRX) lowered its financial guidance for 4Q15 due to significant disruptions in the company’s business.

    By Margaret Patrick
  • uploads///Performance of SPYs Component Sectors
    Macroeconomic Analysis

    JPM and BAC Rose Due to the Likelihood of a Rate Hike

    The stocks of JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Goldman Sachs (GS) rose 2.0%, 2.4%, 2.8%, and 1.6%, respectively.

    By Renee Blakely
  • uploads///Performances of Oil Gold Bond and the US Dollar versus SPY
    Macroeconomic Analysis

    China’s November 2015 PMI Pressured Oil Prices, US Market Bullish

    US investors seemed to take the weak Chinese manufacturing data released by Caixin in stride on November 2. China’s PMI rose from September’s reading of 47.2 to 48.3 for October 2015.

    By Renee Blakely
  • uploads///Performances of ATI and JOY
    Macroeconomic Analysis

    Stocks Fall with Release of Dallas Fed and New Home Sales Reports

    October 26 saw the release of two important economic indicators, namely, the results of the Dallas Fed manufacturing survey and the new home sales report.

    By Renee Blakely
  • uploads///US High Yield Bonds Weekly Issuance Volume
    Company & Industry Overviews

    Why Has High-Yield Bond Issuance Fallen?

    High-yield bond issuance has clearly fallen as 2015 has progressed. For most of the first five months of 2015, issues related to refinancing needs dominated the primary market for high-yield bonds.

    By David Ashworth
  • uploads///ENDP_BBG
    Fund Managers

    Endo International, a New Position for OZ Management

    In 4Q14, Oz Management added a new stake in Endo International plc (ENDP) by purchasing 5,221,710 shares, representing 1.01% of the fund’s 4Q14 portfolio.

    By Stuart McKenzie
  • uploads///actavis
    Fund Managers

    Lone Pine Capital Sells Its Stake in Actavis

    In February 2015, Actavis announced its 4Q14 results, reporting revenues of $4.06 billion. This beat analyst estimates of $3.88 billion.

    By Samantha Nielson
  • uploads///COO
    Fund Managers

    Lone Pine Adds New Stake in The Cooper Companies

    Cooper’s results for fiscal 1Q15 beat the EPS estimates, but it missed on revenue. Cooper’s revenue grew 10% year-over-year to $445.2 million.

    By Samantha Nielson
  • uploads///LTM overview
    Miscellaneous

    Transaction Basics of the Life Time Fitness Merger

    The Life Time Fitness merger is a private equity transaction. Shareholders will receive $72.10 in cash per share.

    By Brent Nyitray, CFA, MBA
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    Pharmaceuticals and Industrials Dominate High Yield Bond Issuance

    Investor appetite was strong for a lot of the high yield bonds that were priced in the market in the week ended March 13.

    By David Ashworth
  • uploads///TSX top  constituents
    Macroeconomic Analysis

    Key challenges facing the Canadian economy

    One of the challenges facing the Canadian economy is a lack diversification. More than 70% of the TSX Composite Index is made up of only three sectors.

    By Surbhi Jain
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    Fund Managers

    ValueAct lowers stake in Adobe Systems

    Adobe announced the acquisition of privately-held Fotolia, a leading marketplace for stock content. A release said Fotolia will be integrated into Adobe Creative Cloud.

    By Samantha Nielson
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    Fund Managers

    JANA Partners takes an activist position in Hertz Global Holdings

    JANA Partners increased its stake in Hertz Global Holdings (HTZ) during the third quarter. The position accounted for 2.95% of the fund’s 3Q14 portfolio.

    By Samantha Nielson
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    Fund Managers

    JANA Partners sells its stake in FMC Corporation

    Barry Rosenstein’s JANA Partners exited a stake in FMC Corporation (FMC) during the third quarter. The stake accounted for 2.83% of the fund’s 2Q14 portfolio.

    By Samantha Nielson
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    Consumer

    Why Highbridge sells its shares in Advance Auto Parts Inc.

    Highbridge Capital exited its position in Advance Auto Parts Inc. (AAP). Advance Auto Parts Inc. accounted for 0.60% of the fund’s first quarter portfolio.

    By Patricia Garner
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    Consumer

    Why Highbridge Capital buys a new stake in PVH Corp.

    Highbridge Capital initiated a brand new position in PVH Corp. (PVH). PVH Corp. accounts for 0.39% of the fund’s second quarter portfolio.

    By Patricia Garner
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