ValueAct Capital Buys More Valeant Pharmaceuticals ~ market folly

Friday, March 17, 2017

ValueAct Capital Buys More Valeant Pharmaceuticals

Jeff Ubben's activist firm ValueAct Capital has filed a 13D and Form 4 with the SEC regarding its position in Valeant Pharmaceuticals (VRX).  Per the 13D, ValueAct now owns 5.2% of the company with over 17.99 million shares.

They purchased 3 million shares in total on March 14th, with the bulk of the trade coming at $10.81 per share with some shares coming at $10.88.

This comes on the heels of Bill Ackman's Pershing Square exiting its Valeant investment entirely.

Per Google Finance, Valeant Pharmaceuticals is "a pharmaceutical and medical device company. The Company is engaged in developing and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). It operates through two segments: Developed markets and Emerging markets. In the Developed Markets segment, it focuses on the areas of dermatology, neurology, gastrointestinal disorders, and eye health therapeutic classes. In the Emerging Markets segment, it focuses on primarily on branded generics, OTC products and medical devices. Its pharmaceutical products include Xifaxan, Solodyn and Glumetza. Its OTC products include PreserVision, Biotrue and Boston. Its other generic products include Latanoprost and Metronidazole. Its ophthalmic surgical products include intraocular lenses, such as Akreos, enVista, Crystalens and Trulign." 

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