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2017-05-19 12:32:45 VRX Valeant $13.45 -0.02 (-0.15%) 12:32 05/19/17 05/19 12:32 05/19/17 12:32	Wells says generic Apriso competition may come much sooner than Valeant expected After the U.S. Patent Office's Trials and Appeal Board ruled that patents related to Valeant's Apriso were unpatentable, Wells Fargo analyst David Maris said the decision may allow generic competition to the ulcerative colitis drug a "dozen years" earlier than Valeant anticipated. Valeant's 2016 10-K does not list Apriso as one of products the company sees facing generic competition between 2017 and 2021, noted Maris, who adds that it is possible that Valeant appeals the PTAB decision. Maris keeps an Underperform rating on Valeant shares.	22 May 06 Jun 24 Aug
VRX Valeant $13.45 -0.02 (-0.15%) 05/19/17 DBAB 05/19/17 NO CHANGE Target $18 DBAB Hold Deutsche Bank 'warming up' to Valeant story In a research note titled "Warming up to VRX," Deutsche Bank analyst Gregg Gilbert says that while Valeant Pharmaceuticals is "not out of the woods," the worst fears may be subsiding. The analyst continues to view the company's near-term setup as "encouraging." Valeant's 2017 outlook seems reachable, asset sales in the near- and medium-term seem likely, and the recent refinancing provided more time and flexibility for the company to deal with its issues, Gilbert tells investors. He also believes the worst case for Xifaxan of near-term generic competition "seems to be off the table for now." The analyst keeps a Hold rating on Valeant with an $18 price target. The drugmaker closed yesterday up 22c to $13.47. 05/11/17 WELS 05/11/17 NO CHANGE Target $9 WELS Underperform Valeant estimates reduced on weakening fundamentals at Wells Fargo Wells Fargo analyst David Maris said the reaction to Valeant's guidance is too positive and notes leverage has increased, most businesses missed his forecasts, and the increase in EBITDA guidance was due to changes in how it accounts for foreign exchange. The analyst lowered estimates and reiterated his Underperform rating given the company's deteriorating fundamentals, adding that he expects the recent share strength to be temporary. However, he increased his price target on the shares to $9 from $8, noting Valeant's Q1 showed a "dramatic decline" in working capital. 05/09/17 JPMS 05/09/17 NO CHANGE JPMS Neutral Valeant's road to recovery remains long, says JPMorgan JPMorgan analyst Chris Schott finds today's rally in Valeant Pharmaceuticals unsurprising as EBITDA guidance was raised following significant cuts over the past year. That said, the analyst continues to see a "long road to recovery for the story." He keeps a Neutral rating on the shares. Valeant is up 18%, or $1.79, to $11.50 in midday trading. 05/09/17 WELS 05/09/17 NO CHANGE WELS Underperform Valeant key products continue to underperform, says Wells Fargo Following the company's Q1 results, Wells Fargo analyst David Maris says Valeant Pharmaceuticals' key products continue to underperform. Valeant's decision to highlight in its press release the EBITDA raise of 1.3% is understandable, as this is better than the recent trend, but the $50M raise is relative to approximately $28.9B of total debt, Maris tells investors in a research note. Key products and areas such as Xifaxan and Bausch + Lomb continue to underperform, the analyst contends. He keeps an Underperform rating on Valeant with an $8 price target. The stock in morning trading is up 15%, or $1.48, to $11.19.

2017-05-19 12:32:45

VRX

Valeant

$13.45: -0.02 (-0.15%)

12:32

05/19/17

05/19

12:32

05/19/17

12:32

Wells says generic Apriso competition may come much sooner than Valeant expected

After the U.S. Patent Office's Trials and Appeal Board ruled that patents related to Valeant's Apriso were unpatentable, Wells Fargo analyst David Maris said the decision may allow generic competition to the ulcerative colitis drug a "dozen years" earlier than Valeant anticipated. Valeant's 2016 10-K does not list Apriso as one of products the company sees facing generic competition between 2017 and 2021, noted Maris, who adds that it is possible that Valeant appeals the PTAB decision. Maris keeps an Underperform rating on Valeant shares.

22
May
06
Jun
24
Aug

VRX Valeant

$13.45: -0.02 (-0.15%)

05/19/17: DBAB

05/11/17: WELS

05/09/17: JPMS

05/09/17: WELS

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Wells says generic Apriso competition may come much sooner than Valeant expected

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