For Immediate Release
Chicago, IL – February 17, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Valeant Pharmaceuticals International, Inc. ( (VRX - Analyst Report) , Pfizer, Inc. ( (PFE - Analyst Report) , ISTA Pharmaceuticals ( , Johnson & Johnson ( (JNJ - Analyst Report) and Sanofi ( (SNY - Analyst Report) .
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: https://at.zacks.com/?id=5513
Here are highlights from Thursday’s Analyst Blog:
Valeant Pharma to Buy Eyetech
Canadian pharmaceuticals company Valeant Pharmaceuticals International, Inc. ( (VRX - Analyst Report) recently announced that it has entered into a definitive agreement to acquire private eye care company, Eyetech, Inc., signaling management’s increasing interest to enter into the ophthalmic space. The acquisition will add Eyetech’s drug Macugen to Valeant Pharma’s ophthalmic portfolio.
Macugen is marketed in the US for the treatment of wet age-related macular degeneration (AMD) by Eyetech. However, Eyetech has a partnership pharma giant Pfizer, Inc. ( (PFE - Analyst Report) to market the drug outside the US. The acquisition is expected to boost Valeant Pharma’s earnings immediately following closure.
Valeant Pharma did not clearly mention the purchase price of the transaction. Management, however, mentioned that in addition to an undisclosed upfront payment, Valeant Pharma will make future milestone payments which will equal to less than two times sales of Macugen.
The Eyetech offer comes on the heels of the failure to acquire another eye-care company, California-based ISTA Pharmaceuticals ( in January 2012. Despite some botched deals Valeant Pharma made a number of acquisitions in 2011. It added PharmaSwiss and Sanitas in Europe, Ortho, a dermatology unit of pharma giant Johnson & Johnson ( (JNJ - Analyst Report) , Dermik, the dermatology unit of Sanofi ( (SNY - Analyst Report) in the US, iNova in Australia, and Afexa Life Sciences, Inc. in Canada.
The acquisitions are expected to help Valeant Pharma achieve its aim of becoming a top 15 pharmaceutical company by the end of 2013. In 2012 Valeant Pharma flagged off its acquisition spree with the purchase of Brazilian sports nutrition and food supplements company Probiotica Laboratorios Ltd. in February.
We currently have a Neutral long-term recommendation on Valeant Pharma. The stock carries a Zacks #1 Rank (Strong Buy rating) in the short run.
Valeant Pharma, as it stands today, was formed following the merger of Biovail and Valeant in September 2010. We believe the combined Biovail/Valeant entity is a unique company as it has a global reach (including exposure to important emerging markets), a diversified revenue base, a favorable tax structure and limited patent exposure. Moreover, accretive acquisitions add to the company’s investment thesis.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: https://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: https://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at https://at.zacks.com/?id=5518.
Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339