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Fly News Breaks for April 22, 2016
VRX, PRGO
Apr 22, 2016 | 07:30 EDT
Wells Fargo analyst David Maris noted that The Wall Street Journal reported Valeant (VRX) is near a deal to name Perrigo (PRGO) CEO Joseph Papa to take over as its CEO. If Papa does in fact take the reins at Valeant, his loss would be negative for Perrigo, which is in the middle of its own turnaround, Maris tells investors. The firm, which views Perrigo as having a best in class franchise, has an Outperform rating on it shares.
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