ValueAct Holdings Sees Opportunity in Valeant Pharmaceuticals Intl (VRX)

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Valeant Pharmaceuticals International, Inc. (NYSE:VRX) stock surged more than 4% in the extended session Thursday after activist investing firm ValueAct Holdings, L.P. disclosed in a regulatory filing ( FORM 4 ) with the Securities and Exchange Commission (SEC) that it purchased – two days ago – 500,000 shares (at a price of $10.88 each) and 2,500,000 shares (at a price of $10.81 each) of the Canadian pharmaceutical and medical device company.

Valeant recently said that it expects full-year 2017 revenues in the range of $8.90 billion to $9.10 billion and a non-GAAP Adjusted EBITDA of between $3.55 billion and $3.70 billion for the period.

VRX stock closed at $11.20, up $0.19 (or +1.73%) with a total volume of 17.90M shares traded during the day.

Valeant Pharmaceuticals International, which develops, manufactures, and markets pharmaceuticals, OTC products, and medical devices worldwide, has 341.19M shares outstanding, market capitalization (intraday) of $3.9B and VRX stock 52-week range is between $10.50 and $38.50 per share.

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