Market Overview

Valeant Pharmaceuticals Rallying On Job Cuts (VRX)

Valeant Pharmaceuticals International (NYSE: VRX) is rallying more than 3% this morning.

This morning, Valeant Pharmaceuticals and Biovail (NYSE: BVF) announced it would be cutting more than 25% of the combined workforce between the two companies.

In June, Biovail announced it would be purchasing Valeant Pharmaceuticals.

Shares of VRX are gaining $2.17 to trade at $62.15.

Posted-In: Earnings News M&A

 

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