UPDATE: Piper Jaffray Downgrades Valeant Pharmaceuticals (VRX) to Underweight

Valeant (VRX) PT Cut to $40 at Canaccord Genuity

Canaccord Genuity analyst Neil Maruok reiterated a Hold rating and lowered his price target on Valeant Pharmaceuticals (NYSE: VRX) to $40.00 (from $75.00).

Maruok commented, "guidance was even lower than our base-case scenario and we believe has begun to erode investor confidence in Valeants underlying business. We believe that the implementation of the partnership with Walgreens,... More

Valeant Pharma (VRX) Results Suggest Disruption in the Business - Evecore ISI's Raffat

Evercore ISI analyst, Umer Raffat, commented on Valeant Pharma (NYSE: VRX) after the call.

"I think it will be an understatement to say that this has clearly been a very humbling call for me," he said.

".. today's results suggests that while... More

Horizon Pharma (HZNP) Falls Amid Lower Outlook from Valeant

Horizon Pharma (NASDAQ: HZNP) is seeing morning pressure following weak earnings and lower guidance from peer Valeant Pharma (NYSE: VRX). HZNP is down 7% while VRX is down 31.6%.

Valeant Pharma (VRX) CEO said his best estimate is 10-K will be filed in April - Bloomberg

Valeant Pharma (NYSE: VRX) CEO said his best estimate is 10-K will be filed in April - Bloomberg

Valeant Pharma (VRX) Corrects adj.-EBITDA Guidance Lower to ~$6B on Call

Valeant Pharma (NYSE: VRX) corrected EBITDA guidance for the next four quarters to about $6 billion on its earning call. An earlier release forecast next four quarters (second quarter 2016 first quarter 2017) guidance of about $6.2 - $6.6 billion.

Shares are lower by 36 percent.

Valeant Pharma (VRX) Misses Dramatically Reduced Expectations - BMO

BMO Capital analyst, Alex Arfaei, posted an earnings flash on Valeant Pharmaceuticals' (NYSE: VRX) miss and guide down. The call is ongoing and began at 8:00AM.

This morning, Valeant reported unaudited 4Q15 revenues of $2.78B, 1% above consensus of $2.75B. Gross margin of 75.6%... More

The Single Most Important Catalyst for Valeant Pharma (VRX) Near-Term...

Valeant Pharma (NYSE: VRX) is down 15% after posting unaudited fourth quarter result and disappointing 2016 guidance. However, according to Evecore ISI analyst Umer Raffat, the single most important catalyst for Valeant near-term is timing for covenants/10-K filing to avoid default .

The all-important date of a default is March 30th + 30 days, so April 29.

Covenant... More

Wall St. dips as healthcare lags before Fed statement

By Laila Kearney

NEW YORK (Reuters) - Healthcare and materials stocks pulled Wall Street lower on Tuesday in a second straight day of quiet trading as investors cautiously awaited news from the U.S. Federal Reserve's two-day policy meeting.

While the Fed is not expected to raise interest rates at its meeting ending on Wednesday, investors will scour Fed Chair Janet Yellen's comments for clues indicating a path for future rate hikes.

We're on auto pilot until we actually get the results of the Fed meeting tomorrow afternoon," said Art Hogan, chief market strategist at... More

Orexigen Therapeutics (OREX) Enters Mysimba Commercialization Agreement with Valeant (VRX)

Orexigen Therapeutics, Inc. (Nasdaq: OREX) announced Valeant Pharmaceuticals International, Inc. will commercialize Mysimba® (naltrexone HCl / bupropion HCl prolonged release) in Central and Eastern Europe. The distribution agreement between Valeant Holdings Ireland and Orexigen's wholly owned subsidiary, Orexigen Therapeutics Ireland Ltd., includes 12 countries where Mysimba has been approved for marketing in the European Union (EU): Greece, Slovenia, Slovakia, Czech Republic, Hungary, Croatia, Lithuania, Estonia, Poland, Latvia, Bulgaria, and Romania. The agreement also extends to several non-EU countries where Valeant will apply for marketing authorization: Serbia, Bosnia and Herzegovina, Albania, Macedonia, Montenegro,... More

Drugmaker Valeant faces debt default risk; shares plunge 50 percent

By Rod Nickel and Caroline Humer

(Reuters) - Valeant Pharmaceuticals International Inc's (NYSE: VRX) shares plunged 50 percent on Tuesday after the company said a delay in filing its annual report put it in danger of a default on its $30 billion in debt.

The news from the Canadian drugmaker, which also slashed its 2016 sales and earnings outlook, prompted Bill Ackman, whose Pershing Square Capital Management is one of Valeant's largest shareholders, to tell investors that he would take a much more active role there.

For years, Valeant was an investor darling, buying... More