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Exclusive: Valeant to drop deal-making in near term to cut debt, boost stock
2014-12-09 11:06:42| Biotech - Topix.net
After spending $19 billion on 40 acquisitions since 2008, the Canadian drugmaker is regrouping after failing last month to acquire Botox-maker Allergan Inc ( The new strategy, targeted for the next two to three quarters, may surprise some investors accustomed to Valeant's usual way of doing business. Speculation about Valeant's next takeover target has driven up shares in generic drugmaker Mylan Inc ( Valeant does not rule out pursuing deals where appropriate, but it is focused on its ability to pay down debt or buy back shares, said spokeswoman Laurie Little.
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Category:Biotechnology and Pharmaceuticals