Market Overview

Allergan Rallies Ahead Of Q1 Report

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Allergan (NYSE: AGN) shares are trading higher by $13 at $214.65 in Monday's session. The company will announce Q1 earnings before the bell on Tuesday.

The issue has tumbled since a planned merger with Pfizer Inc (NYSE: PFE) was scrapped on April 5. The following day drop declined all the way to $236.55 and traded as low as $195.50 in before rebounding to close at $201.65.

The catalyst for today's rally besides some short covering ahead of the report is the announcement that a Phase III study for Ulipristal Acetate in the treatment of uterine fibroids met all co-primary and secondary endpoints.

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