Key Developments: Valeant Pharmaceuticals International Inc (VRX.N)

VRX.N on New York Stock Exchange

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24 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Valeant Pharmaceuticals International and Progenics Pharmaceuticals's RELISTOR receives positive CHMP Opinion in the EU
Friday, 24 Apr 2015 09:14am EDT 

Valeant Pharmaceuticals International and Progenics Pharmaceuticals:Says Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending new indication for RELISTOR (methylnaltrexone bromide) Subcutaneous Injection.Says this is for treatment of opioid-induced constipation (OIC) when response to laxative therapy has not been sufficient in adult patients, aged 18 years and older.Additionally, the Committee has recommended a one-year extension of data/marketing protection for RELISTOR, to 11 years from the date of approval, citing the fact that RELISTOR offers a major contribution to patient care in comparison to existing therapies.  Full Article

Valeant, Allergan, and Pershing Square have agreed to drop lawsuit in Allergan v. Valeant Pharmaceuticals International
Thursday, 9 Apr 2015 11:36am EDT 

Pershing Square Holdings Ltd:Pershing Square Capital Management, LP has confirmed that on April 9 the parties to the lawsuit entitled Allergan, Inc, et al. v. Valeant Pharmaceuticals International, Inc., et al have executed and filed with the court a Joint Stipulation of Voluntary Dismissal, dismissing the action.  Full Article

Valeant Pharmaceuticals Internatioal Inc completes acquisition of Salix Pharmaceuticals Ltd
Wednesday, 1 Apr 2015 09:00am EDT 

Valeant Pharmaceuticals Internatioal:Completes acquisition of Salix Pharmaceuticals Ltd.  Full Article

Valeant Pharmaceuticals Inc closes offering of $1.45 billion of common shares
Friday, 27 Mar 2015 10:09am EDT 

Valeant Pharmaceuticals Inc:Closes previously announced registered offering of common shares in United States.Pursuant to offering, issued 7,286,432 common shares at a price of $199 per share, for aggregate gross proceeds of about $1.45 billion.Expects to use net proceeds of offering, together with borrowings under company's incremental term loan facilities, proceeds of an offering of company's senior notes and cash on hand, to fund purchase price of previously announced acquisition of Salix Pharmaceuticals Ltd.Says net proceeds used for repayments of indebtedness of Salix and certain transaction expenses.Also intends to use any remaining proceeds for general corporate purposes, including acquisitions and debt repayments.Deutsche Bank Securities acted as sole book-running manager for offering.HSBC, MUFG, DNB Markets, Barclays, Morgan Stanley, RBC Capital Markets and SunTrust Robinson Humphrey acted as co-managers for offering.  Full Article

Valeant Pharmaceuticals International Inc prices offering of $1.45 bln of common shares
Tuesday, 17 Mar 2015 09:00am EDT 

Valeant Pharmaceuticals International Inc:Company will issue 7,286,432 common shares at price of $199.00 per share, for aggregate gross proceeds of about $1.45 bln.Says company will file with U.S. Securities and Exchange Commission final prospectus supplement to its effective shelf registration statement on Form S-3 in connection with the Offering.Closing of offering is expected to occur on or about March 27.Company has also granted to underwriter of offering an option, exercisable for a period of 30 days following the date of the final prospectus supplement, to purchase additional common shares equal to up to 15 pct of common shares initially sold.Expects to use net proceeds of Offering, together with borrowings under company's incremental term loan facilities, proceeds of an offering of the Company's senior notes and cash on hand.Also to fund purchase price of previously said acquisition of Salix Pharmaceuticals, Ltd. (Salix), as well as repayments of indebtedness of Salix and certain transaction expenses.Intends to use any remaining proceeds for general corporate purposes, including acquisitions and debt repayments.Deutsche Bank Securities is acting as sole book-running manager for the Offering and HSBC, MUFG, DNB Markets, Barclays, Morgan Stanley, RBC Capital Markets and SunTrust Robinson Humphrey are acting as co-managers for offering.  Full Article

Valeant Pharmaceuticals International Inc announces offering of $1.45 bln of common shares
Monday, 16 Mar 2015 04:01pm EDT 

Valeant Pharmaceuticals International Inc:Files with U.S. Securities and Exchange Commission a preliminary prospectus supplement to its effective shelf registration statement on Form S-3 in connection with a registered offering in the United States of $1.45 bln of its common shares.Expects to use net proceeds, together with borrowings under company's incremental term loan facilities, proceeds of an offering of company's senior notes and cash on hand, to fund purchase price of the previously announced acquisition of Salix Pharmaceuticals Ltd.Intends to use any remaining proceeds for general corporate purposes, including acquisitions and debt repayments.Deutsche Bank Securities Inc will act as bookrunning manager for offering.  Full Article

Valeant Pharmaceuticals International Inc and Salix agree on amended terms to merger agreement
Monday, 16 Mar 2015 08:00am EDT 

Valeant Pharmaceuticals International Inc and Salix Pharmaceuticals, Ltd:Says companies entered into an amendment to their agreement and plan of merger, dated Feb. 20.Pursuant to amendment, Valeant increased offer price to acquire all outstanding common stock of Salix from $158.00 per share to $173.00 per share in cash, or total enterprise value of about $15.8 bln, through April 7.Revised offer price of $173.00 per share provides an additional about $1 bln in cash consideration to Salix stockholders, and represents an increase of 9.49 pct and 43.9 pct, respectively, over original offer price of $158.00 per share and unaffected price of Salix common stock on Jan. 16 of $120.19.As previously said, if minimum tender condition is satisfied at end of day on March 31, Valeant expects to close transaction on April 1.If all of conditions to tender offer have not been satisfied by April 8, 2015, offer price will drop back to $158.00 per share.In consideration for increase of offer price through April 7, 2015, termination fee payable by Salix to Valeant has been increased by $100 mln and outside date after which either party may terminate the transaction has been moved from Aug. 20 , to May 1.Amendment was approved by Boards of Directors of both companies.  Full Article

Valeant Pharmaceuticals International Inc announces launch of private offering of senior notes
Monday, 9 Mar 2015 04:40pm EDT 

Valeant Pharmaceuticals International Inc:Says VRX Escrow Corp., newly formed wholly owned Canadian subsidiary of company, has launched an offering of dollar equivalent of about $9.6 bln aggregate principal amount of senior unsecured notes to be issued in four series denominated in U.S. dollars and Euro.Says net proceeds of offering, together with borrowings under company's incremental term loan facilities and cash on hand, are expected to be used to fund previously sadi acquisition of Salix Pharmaceuticals, Ltd. (Salix).Also for repayments of indebtedness of Salix and certain transaction expenses.  Full Article

Pershing Square announces new position in Valeant Pharmaceuticals International
Monday, 9 Mar 2015 01:40pm EDT 

Pershing Square Holdings Ltd:Pershing Square announces new position in Valeant Pharmaceuticals International Inc.Announces a new position in Valeant Pharmaceuticals International Inc representing approximately 16.9 pct of PSH portfolio.Pershing Square Capital Management LP says funds it manages have purchased 16.5 mln shares representing 4.9 pct of Valeant.  Full Article

Valeant to acquire Salix Pharmaceuticals for $158.00 per share in cash
Sunday, 22 Feb 2015 04:00pm EST 

Valeant Pharmaceuticals:Valeant to acquire Salix Pharmaceuticals for $158.00 per share in cash.Transaction represents total enterprise value of about $14.5 billion.Transaction expected to close in second quarter of 2015.  Full Article

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Drugmaker Valeant completes $11 billion purchase of Salix

- Canada's Valeant Pharmaceuticals International Inc completed its $10.96 billion purchase of Salix Pharmaceuticals Ltd , the acquisitive company said on Wednesday.

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