Valeant Pharmaceuticals Intl Inc (NYSE:VRX) announced that its wholly owned subsidiary, Bausch + Lomb, a leading global eye health company, launched new PreserVision® AREDS 2 Formula + Multivitamin. PreserVision® is the #1 doctor-recommended eye vitamin brand specially formulated for people with moderate to advanced Age-Related Macular Degeneration.
The 2-in-1 formula helps make it simpler for consumers to take their supplements by reducing the number of pills taken each day and is the first leading brand to combine the National Eye Institute recommended AREDS2 nutrient formula with other essential vitamins and minerals typically found in daily multivitamins. PreserVision® AREDS 2 Formula + Multivitamin is beta carotene-free and contains a high level of Vitamin D to support the needs of older adults.
“We are proud that this new formula directly responds to consumer feedback and data and can create more convenience for those we serve,” said Joseph C. Papa, chairman and chief executive officer. “The launch of PreserVision® AREDS 2 Formula + Multivitamin adds to Bausch + Lomb’s long history of delivering innovation to eye health and underscores Valeant’s commitment to inventive solutions that address consumers’ healthcare needs.”
The new PreserVision® AREDS 2 Formula + Multivitamin is now available in major retailers, including Walgreens, Rite Aid, Kroger and Amazon. (Original Source)
Shares of Valeant closed yesterday at $23.66, down $0.48 or -1.99%. VRX has a 1-year high of $263.81 and a 1-year low of $22.52. The stock’s 50-day moving average is $28.34 and its 200-day moving average is $61.58.
On the ratings front, Valeant has been the subject of a number of recent research reports. In a report issued on June 9, Morgan Stanley analyst David Risinger maintained a Hold rating on VRX, with a price target of $36, which implies an upside of 52.2% from current levels. Separately, on the same day, Stifel Nicolaus’ Annabel Samimy maintained a Buy rating on the stock and has a price target of $55.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Risinger and Annabel Samimy have a total average return of 1.1% and 10.1% respectively. Risinger has a success rate of 56% and is ranked #1662 out of 3882 analysts, while Samimy has a success rate of 55% and is ranked #410.
The street is mostly Neutral on VRX stock. Out of 18 analysts who cover the stock, 8 suggest a Hold rating , 7 suggest a Buy and 3 recommend to Sell the stock. The 12-month average price target assigned to the stock is $32.08, which implies an upside of 35.6% from current levels.
Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology, and branded generics. The company operates through two operating and reportable segments: (i) Developed Markets and (ii) Emerging Markets. The Developed Markets segment consists of (i) sales in the U.S. of pharmaceutical products, OTC products, and medical device products, as well as alliance and contract service revenues, in the areas of eye health, dermatology and podiatry, aesthetics and dentistry, (ii) sales in the U.S. of pharmaceutical products indicated for the treatment of neurological and other diseases, as well as alliance revenue from the licensing of various products it developed or acquired, and (iii) pharmaceutical products, OTC products, and medical device products sold in Canada, Australia, New Zealand, Western Europe and Japan. The Emerging Markets segment consists of branded generic pharmaceutical products and pharmaceuticals, OTC products, and medical device products. Products are sold primarily in Central and Eastern Europe (primarily Poland and Russia), Asia, Latin America (Mexico, Brazil, and Argentina and exports out of Mexico to other Latin American markets), Africa and the Middle East.