Valeant (VRX) Philidor Concern Likely Misinformation - Nomura
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October 21, 2015 1:24 PM EDT
Valeant Pharma (NYSE: VRX) declined 38% to session lows at around 1:20 pm on Tuesday, briefly traded under $90 per share. The massive slide follows Citron Research's fraud report earlier. So far the company hasn't responded, which might be viewed as a negative by some investors.
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October 21, 2015 12:42 PM EDT
Carl Icahn said Valeant Pharma (NYSE: VRX) is 'prime example' of inversion, according to an interview on CNBC today. Icahn also noted that he doesn't have a long position in the stock, but wishes he had a short position.
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October 21, 2015 12:39 PM EDT
Mizuho Securities analyst Irina Koffler offered some comments on the specialty pharmaceutical sector give the panic following reports of fraud at Valeant Pharma (NYSE: VRX).
Koffler key points are highlighted below:
Our Neutral thesis on VRX is intact: We cannot verify or dispute the allegations made by Citron Research or SIRF about Valeant's Philidor pharmacy. That said, it almost doesn't matter as the stock appears broken and management will now have to defend the story rather than focus on its organic growth and M&A. We initially used a 14% WACC...
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