Tuesday, September 4, 2012

Valeant shares shoot higher on Medicis deal

(Reuters) - Valeant Pharmaceuticals International Inc's stock jumped 15 percent on Tuesday on news of a $2.6 billion deal to buy Medicis Pharmaceutical Corp, a move that could give the Canadian drugmaker's skin care business a big boost. Valeant announced the $44 a share offer for its U.S. competitor on Monday, when markets were closed in Canada and the United States for Labor Day. Medicis stock rose 38.2 percent to $43.61 on Tuesday. ... Original Source

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