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Business
Valeant Increases Bid For Allergan
by Marc S. Reisch
June 2, 2014
| A version of this story appeared in
Volume 92, Issue 22
Valeant Pharmaceuticals has sweetened its offer to buy specialty drugmaker Allergan to $50 billion in an effort to persuade Allergan’s board to agree to the deal. Like Valeant’s original $47 billion offer at the end of April, the new bid is backed by activist investor William A. Ackman. Separately, Valeant said it will sell a portfolio of dermatology drugs to Nestlé for $1.4 billion. The sale would remove some regulatory concerns over Valeant’s combination with Allergan, which makes the wrinkle-reducing drug Botox.
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