Valeant Pharmaceuticals Rallying On Job Cuts (VRX)

by Roger Nachman, Benzinga Staff Writer

September 7, 2010 9:56 AM | 19 seconds read | Make a Comment

Valeant Pharmaceuticals International

VRX

is rallying more than 3% this morning. This morning, Valeant Pharmaceuticals and Biovail

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.

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Valeant Pharmaceuticals Rallying On Job Cuts (VRX)