Valeant: New Drug Pricing, Same Price Action
Valeant Pharmaceuticals Intl Inc (NYSE: VRX) shares are trading lower by $0.40 (4.5 percent) at $8.48 in Friday's session.
Before the open, the company announced its pricing for its new psoriasis med SILIQ at $3,500 per month. That makes the drug the lowest-priced injectable biologic for moderate-to-severe plaque psoriasis on the market.
The news hasn't given any boost to Valeant's stock. In fact, it's trading lower for the fourth time in the last six sessions. The two outliers was one day at unchanged and the other was a meager $0.07 gain. Over this course of time, it has fallen from its April 11 close ($9.60) to as low as $8.47, which is just below its current price.
That marks the lowest level for the issue since it bottomed in January 2009 at $8.41.
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