Information Provided By:
Fly News Breaks for February 22, 2017
SGYP, VRX
Feb 22, 2017 | 18:05 EDT
Wells Fargo analyst David Maris says he asked Valeant Pharmaceuticals (VRX) whether industry speculation is true regarding the company losing 50-plus gastrointestinal salespeople to Synergy Pharmaceuticals (SGYP) following the latter's recent FDA approval. Valeant indicated that a number of salespeople have left but would not confirm how many, Maris tells investors in a research note. The analyst adds that Synergy would only comment that it has been very successful in hiring a large number of experienced salespeople. The loss of 50-plus salespeople would be another setback to the Salix/gastrointestinal salesforce at a time when prescription trends on Xifaxan are already weak, Maris contends. The analyst also learned that the son of Valeant CEO Joseph Papa joined Valeant in September 2016 as a product manager for Xifaxan, the company's largest product. Maris says Valeant acknowledged that several investors have already raised the matter. Maris has an Underperform rating on the shares, which closed the trading day down 4c to $16.35.
News For VRX;SGYP From the Last 2 Days
There are no results for your query VRX;SGYP