Concordia Healthcare (CXRX) Trades Lower in Sympathy with Peer Valeant Pharma (VRX)
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Declines in Concordia Healthcare (NASDAQ: CXRX) Thursday morning were tied to a collapse in shares of peer Valeant Pharma (NYSE: VRX) after WSJ reported that it's under criminal investigation. According to one trader, weakness in Concordia was directly related to its similarities with Valeant, which have been widely discussed in previous media reports.
Shares traded down just over 2% mid-morning.
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