{"id":508,"date":"2014-11-13T13:41:00","date_gmt":"2014-11-13T13:41:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2014\/11\/13\/roller-coaster-week-for-valean\/"},"modified":"2015-06-01T19:40:48","modified_gmt":"2015-06-01T19:40:48","slug":"roller-coaster-week-for-valean","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2014\/11\/13\/roller-coaster-week-for-valean\/","title":{"rendered":"Roller-coaster week for Valeant"},"content":{"rendered":"

By Tracey Arial<\/b>
www.thesuburban.com<\/a><\/p>\n

Last week was a rollercoaster ride for the Laval-based pharmaceutical company Valeant. The company is trying to take-over Botox- and Darpin-maker Allergan. Allergan\u2019s current managers are fighting hard to prevent the deal.<\/p>\n

Valeant got bad news on Wednesday, when Allergan notified the stock market that it has discussions about a merger with a third company, Dublin-based Actavis. The notification increased Allergan\u2019s stock price to more than $197.<\/p>\n

\n<\/div>\n
\nValeant responded with a claim that it would be willing to increase its offer to $200 a share under a fair sales process, such as an auction. The offer would be significantly higher than its initial bid of less than $60. <\/p>\n

Good news came for Valeant on Thursday, when a U.S. judge refused Allergan\u2019s request to ban Valeant and its partner Pershing, which owns 10 per cent of Allergan\u2019s stock, from voting together at a special shareholder\u2019s meeting on Dec. 18. Pershing hopes to oust most of Allergan\u2019s current board members at this meeting, something that would make a merger with Valeant more likely.<\/p><\/div>\n

\n
\n
On Friday, Valeant decided to reach out directly to plastic surgeons and dermatologists who use Botox or Darpin. A hundred doctors were surveyed in July, and 44 of them cited concerns about potential cost-cutting, reduced research and development and the loss of customer service under a Valeant take-over.<\/p>\n

The letter said in part:<\/p>\n

\nOur philosophy on integration has been developed through our positive experience with Bausch+Lomb.<\/i> <\/p><\/blockquote>\n

\nFollowing our acquisition a year ago in August, we made an effort to maintain relationships and invest in customer activities\u2014we made no U.S. sales force cuts whatsoever.<\/i> <\/p><\/blockquote>\n

\nWe were collaborative on all major issues and gave B+L\u2019s business leaders the autonomy to make their own integration decisions.<\/i> <\/p><\/blockquote>\n

\nImportantly, we made sure their leaders understood and enjoyed Valeant\u2019s unique and highly effective culture.<\/i> <\/p><\/blockquote>\n

\nThese efforts have allowed us to maintain strong customer relationships, garner widespread employee satisfaction and continue accelerating organic growth across the business. <\/i><\/p><\/blockquote>\n

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By Tracey Arialwww.thesuburban.com Last week was a rollercoaster ride for the Laval-based pharmaceutical company Valeant. The company is trying to take-over Botox- and Darpin-maker Allergan. Allergan\u2019s current managers are fighting hard to prevent the deal. Valeant got bad news on Wednesday, when Allergan notified the stock market that it has discussions about a merger with<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-508","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nRoller-coaster week for Valeant - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2014\/11\/13\/roller-coaster-week-for-valean\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Roller-coaster week for Valeant - Newscoverage\" \/>\n<meta property=\"og:description\" content=\"By Tracey Arialwww.thesuburban.com Last week was a rollercoaster ride for the Laval-based pharmaceutical company Valeant. 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