Susquehanna analyst Andrew
Finkelstein commented on the media report that Valeant (VRX) was approached by TPG and Takeda (TKPYY) about a potential buyout, noting the timing mentioned means the approach came when Valeant shares were trading at or below the mid-$30 range. What is not known is whether a premium was offered, but the firm notes that private equity deals have generally been done at low multiples. However, this report and other recent news signaling private equity interest in the space could help put a a floor under "beaten up" pharma names like Endo (ENDP), Lannett (LCI) and Akorn (AKRX), Finkelstein tells investors. The report does not change Susquehanna's fundamental views on Valeant, added the analyst, who keeps a Neutral rating and $35 price target on Valeant shares.