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Biotech Beat: Analysts Weigh In on Valeant Pharmaceuticals Intl Inc (VRX) and Relypsa Inc (RLYP)


Analysts are weighing in on the controversial drug giant Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and biopharmaceutical company Relypsa Inc (NASDAQ:RLYP), following recent events.

Valeant Pharmaceuticals Intl Inc

In a research report released Monday, Nomura’s healthcare analyst Shibani Malhotra reiterated a Buy rating on shares of Valeant Pharma, with a price target of $290, after the company announced it has formed a committee to review allegations against the company. Valeant shares reacted to the news, dropping 5.25% to $110.06 on heavy volume.

Malhotra observed, “While Valeant management did an excellent job of addressing investor concerns regarding Philidor, we were somewhat disappointed that today’s investor call was so narrowly focused. This is more so as the company now has three government investigations ongoing, of which one is criminal. Specifically, we had hoped that management recognized that regaining investor credibility is the single most important thing for the company at present.”

“Our diligence had suggested the Citron recent report was based on misinformation, and this was well proven during today’s presentation; however, the bigger issue here is that investors were willing to believe the report and...