Valeant Pharmaceuticals International Inc sees close to 50 opportunities for mergers or acquisitions, its chief executive said on Thursday, as it aims to become one of the world's five biggest pharmaceutical companies. The company, Canada's largest listed drugmaker and maker of antidepressant drug Wellbutrin and over-the-counter remedy Cold-FX, swung to a higher-than-expected fourth-quarter profit driven by the acquisition of contact lens maker Bausch & Lomb Holdings Inc. Shares rose 3 percent in Toronto and New York in morning trading, touching all-time highs. Valeant, which aims to become one of the world's top five pharmaceutical companies by market capitalization by 2016, has grown rapidly through acquisitions amid a consolidation wave in the specialty pharmaceutical sector. Chief executive officer Michael Pearson said the company is in multiple deal discussions, as it typically is, and has no set plan for how it will triple its market cap to $150 billion.
via Health News Headlines - Yahoo News http://ift.tt/OGqQMu
via Health News Headlines - Yahoo News http://ift.tt/OGqQMu
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