|Bid||0.00 x 1000|
|Ask||0.00 x 2900|
|Day's range||23.36 - 24.43|
|52-week range||10.94 - 27.79|
|PE ratio (TTM)||3.43|
|Forward dividend & yield||N/A (N/A)|
|1y target est||23.25|
A strong first-quarter sent the pharmaceutical company's shares northward, but this positive momentum is starting to fade after a key regulatory setback.
Valeant Pharmaceuticals (VRX), now known as Bausch Health Companies (BHC), generated revenues of $2 billion in the first quarter compared to $2.1 billion in the first quarter of 2017, reflecting a 5% YoY (year-over-year) decline.
In July, the FDA accepted Bausch + Lomb’s NDA (New Drug Application) for sub-micron loteprednol etabonate for the treatment of patients who have undergone ocular surgery and are showing symptoms of post-operative inflammation and pain.
Investors in Valeant Pharmaceuticals (VRX) need to pay close attention to the stock based on moves in the options market lately.
A controversy over massive price increases, along with other scandals, wrecked Valeant Pharmaceutical International Inc.’s reputation as well as its stock price in recent years. Valeant (VRX) is using two techniques to raise prices on one of its best-selling drugs: it has increased the size of the package of its diarrhea medication, called Xifaxan, by 43%, from 42 pills to 60, and it is charging about 6% more per milligram, according to an analyst note by Mizuho’s Irina Koffler. The larger packaging has helped boost sales volumes, Koffler said.
Shares of Valeant Pharmaceuticals International (VRX) sold off earlier this month after the company received a Complete Response Letter from the Food and Drug Administration concerning its plaque psoriasis Duobrii. However, Mizuho's Irina Koffler argues that the selloff is overdone, as she believes that Xifaxan, the traveler's diarrhea and irritable-bowel-syndrome treatment, is Valeant's key growth driver, rather than its dermatology portfolio. She reiterated a Buy rating on Valeant Friday and raised her price target by $4 to $31. The SPDR S&P Pharmaceuticals ETF (XPH) is up 0.5% to $43.18 and the Health Care Select Sector SPDR ETF (XLV) is up 0.8% to $83.92.
Valeant Pharmaceuticals (VRX) stock has been falling in June. Valeant’s division Ortho Dermatologics received a CRL (complete response letter) from the FDA on June 18 for its new drug application for Duobril, which treats plaque psoriasis. Valeant’s Siliq, which treats moderate to severe psoriasis, received FDA approval earlier.
By now, we've all heard of the horrors of the U.S. opioid crisis: Well over 100 people a day die by opioid overdose, and a quarter of all patients who are prescribed opioids for chronic pain–11.5 million people–end up misusing the medications. Valeant is off 0.5% to $23.19 this morning.
Shares of Valeant Pharmaceuticals International (VRX) started the week off on a down note, on news that the company received a Complete Response Letter from the Food and Drug Administration concerning its plaque psoriasis treatment Monday, and the shares are falling again today. Cantor Fitzgerald argued that the letter wasn't anything for investors to worry about, and today H.C. Wainwright analyst Raghuram Selvaraju argues much the same thing, even if he has a Neutral rating on the stock. Selvaraju writes that although the psoriasis drug, Duobrii, was one of the "Significant Seven" products around which he saw the "new" Valeant would be built, he--much like Cantor--hasn't included sales from the treatment in his model for 2018.
Shares of Valeant Pharmaceuticals International (VRX) are lower on Monday, following news that the company received a Complete Response Letter from the Food and Drug Administration concerning its plaque psoriasis treatment. Chen writes that there are three reasons why she still has confidence in Valeant: The fact that the pharmacokinetic (PK) data has been available for "years," that in April, the Journal of American Academy of Dermatology published positive results from two Phase 3 randomized double-blind clinical trials for the first time, and sales of Duobrii wouldn't have been critical to Valeant's 2018 sales, given that it would have launched late in the year. Chen notes that the FDA's letter related to Duobrii's PK data, and Valeant is working with the agency.
Among the companies with shares expected to trade actively in Monday's session are Apple, Facebook, Alphabet, Comcast, General Electric and General Motors.
Valeant Pharmaceuticals International Inc. shares dropped 5.4% in premarket trade on Monday on news that the Food and Drug Administration failed to approve the company's lotion intended to treat plaque psoriasis. In a "complete response letter" notifying the company of the decision, the regulator noted questions about pharmacokinetic data, but did not specify problems with how well the product, Duobrii, works, nor with chemistry, manufacturing and controls processes, the company said. Valeant says it plans to work with the FDA to resolve the matter.
As we discussed earlier, Valeant Pharmaceuticals (VRX) reported a non-GAAP EPS of $0.88 on revenues of ~$2.0 billion during the first quarter. Valeant had a 5.4% decline in its year-over-year revenues during the first quarter due to a 9% decrease in operating revenues. The decrease was partially offset by the favorable impact of foreign exchange—compared to revenues of ~$2.1 billion during the first quarter of 2017.
As we discussed earlier, Valeant Pharmaceuticals (VRX) reported a 9% decrease in its operating revenues to ~$2.0 billion during the first quarter—compared to revenues of ~$2.1 billion during the first quarter of 2017. On June 1, Valeant entered into a fourth amended and restated credit and guarantee agreement to refinance its secured revolving and term loan credit facilities. The company also closed the offering of 8.500% senior notes due in 2027 by a wholly owned indirect subsidiary.
Entwistle & Cappucci LLP (“Entwistle & Cappucci”) today announced that it has filed a securities class action lawsuit on behalf of persons or entities that purchased call options and/or sold put options on Valeant Pharmaceuticals International, Inc. (VRX) (“Valeant” or the “Company”) common stock during the period January 4, 2013 through August 11, 2016, inclusive (the “Class Period”), and who were damaged thereby (the “Class”). The case was filed in the United States District Court for the District of New Jersey, Case No. 3:18-cv-10246, against Valeant and related defendants (collectively, “Defendants”). The class action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Valeant Pharmaceuticals (VRX) reported a GAAP net loss of ~$2.7 billion during the first quarter—compared to the GAAP net income of ~$628 million during the first quarter of 2017. Also, the GAAP EPS was negative at -$7.68. The company reported a loss during the first quarter—compared to the GAAP EPS of $1.79 during the first quarter of 2017.