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Corporate Statements, Supplemental New Drug Application, Financial Result, and Technical Update - Research Reports on Allergan, Salix, Medivation, Valeant and AstraZeneca

Editor Note: For more information about this release, please scroll to bottom


News provided by

Analysts Review

Aug 13, 2014, 09:20 ET

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NEW YORK, August 13, 2014 /PRNewswire/ --

Today, Analysts Review released its research reports regarding Allergan, Inc. (NYSE: AGN), Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP), Medivation Inc. (NASDAQ: MDVN), Valeant Pharmaceuticals Intl Inc. (NYSE: VRX) and AstraZeneca plc (NYSE: AZN). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/5701-100free.

--
Allergan, Inc. Research Reports
On August 6, 2014, Allergan, Inc. (Allergan) issued a statement in response to reports by Institutional Shareholder Services (ISS) and Glass Lewis on Pershing Square Capital Management, L.P's (Pershing Square) solicitation to call a special meeting of Allergan's stockholders. An excerpt from the statement is as follows- "These recommendations do not change the fact that Valeant's offer is grossly inadequate, substantially undervalues Allergan, creates significant risks and uncertainties for Allergan stockholders and is not in the best interests of the Company and its stockholders." On April 22, 2014, the Company received an unsolicited proposal from Valeant Pharmaceuticals International, Inc. (Valeant) to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant common shares and $48.30 in cash per share of common stock of the Company. The full research reports on Allergan are available to download free of charge at:

http://www.analystsreview.com/Aug-13-2014/AGN/report.pdf

--
Salix Pharmaceuticals, Ltd. Research Reports
On August 11, 2014, Salix Pharmaceuticals, Ltd. (Salix) and Progenics Pharmaceuticals (Progenics) jointly announced that the Food and Drug Administration (FDA) has informed Salix that the supplemental New Drug Application (sNDA) for RELISTOR® (methylnaltrexone bromide) Subcutaneous Injection, 20 mg/ml, for the treatment of opioid-induced constipation (OIC) in patients taking opioids for chronic non-cancer pain has been assigned a user fee goal date of September 29, 2014. The Company informed that RELISTOR is a Peripherally Acting Mu Opioid Receptor Antagonist (PAMORA) specifically designed to block the constipating effects of opioids in the gastrointestinal tract. The full research reports on Salix are available to download free of charge at:

http://www.analystsreview.com/Aug-13-2014/SLXP/report.pdf

--
Medivation Inc. Research Reports
On August 7, 2014, Medivation Inc. (Medivation) reported its Q2 2014 collaboration revenues of $148.09 million, up 111.1% YoY. According to the Company, during the quarter Medivation's collaboration revenue related to - U.S. net sales of XTANDI was $71.9 million; ex-U.S. net sales of XTANDI were $10.0 million; and upfront and development milestone payments of $66.2 million. The Company's Q2 2014 net income came in at $47.9 million or $0.60 per diluted share, compared to net loss of $4.9 million or $0.07 diluted loss per share in Q2 2013. Analysts polled by Thomson Reuters expected the Company to post Q2 2014 EPS of $0.24 per share on revenue of $125.6 million. The Company's H1 2014 collaboration revenue improved 102.3% YoY to $235.3 million, while net income stood at $34.3 million, compared to net loss of $32.1 million in H1 2013. For full-year 2014, the Company expects total collaboration revenue in the range of $615 million - $640 million. The full research reports on Medivation are available to download free of charge at:

http://www.analystsreview.com/Aug-13-2014/MDVN/report.pdf

--
Valeant Pharmaceuticals Intl Inc. Research Reports
On August 6, 2014, Valeant Pharmaceuticals Intl Inc. (Valeant) and Pershing Square Capital Management, L.P. (Pershing Square) released their views on Institutional Shareholder Services' (ISS) recommendation in support of Pershing Square's effort to call a special meeting of Allergan shareholders. J. Michael Pearson, Valeant's Chairman and CEO, commented, "Our offer represents a significant premium to Allergan's unaffected stock price, and shareholders should have the right to determine for themselves whether they want to pursue this enormously value-creating transaction. Given the Allergan board's repeated refusal to engage in good faith negotiations with Valeant, their 'scorched earth' campaign of unjustified attacks on Valeant's business and their efforts to prevent Allergan shareholders from voicing their perspectives on our offer, we believe that the only path forward is to replace a majority of the Allergan board, remove Allergan's anti-shareholder governance provisions and allow investors the opportunity to decide the outcome of this transaction." On April 22, 2014, the Company submitted a merger proposal to the Board of Directors of Allergan Inc. (Allergan) in which each share of Allergan were proposed to be exchanged for $48.30 in cash and 0.83 shares of Valeant common stock, based on the fully diluted number of Allergan shares outstanding. The full research reports on Valeant are available to download free of charge at:

http://www.analystsreview.com/Aug-13-2014/VRX/report.pdf

--
AstraZeneca plc Research Reports
On August 8, 2014, AstraZeneca plc's (AstraZeneca) stock declined 2.17% to end the trading session at $68.49, underperforming the S&P 500 that moved up 1.15% over the same trading session. AstraZeneca's stock opened the session at $69.57 and oscillated in the range of $67.48 - $69.77. Over the past six months, the stock has returned 7.42% largely in line with the S&P 500 that returned 7.49% over the same period of time. The full research reports on AstraZeneca are available to download free of charge at:

http://www.analystsreview.com/Aug-13-2014/AZN/report.pdf

--
About Analysts Review
We do things differently. Our goal is to provide the best content to our exclusive membership. We are constantly hiring researchers, writers, editors and analysts to add to our team and become better than yesterday. If being a part of a fast growing community with an edge in today's market sounds interesting to you, then sign-up today and experience the full benefits of membership.


===============
EDITOR'S NOTES:
===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.analystsreview.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.analystsreview.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.analystsreview.com for consideration.

COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE
Analysts Review makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED
Analysts Review is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Analysts Review whatsoever for any direct, indirect or consequential loss arising from the use of this document. Analysts Review expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Analysts Review does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

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