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 The leading web portal for pharmacy resources, news, education and careers March 29, 2017
Pharmacy Choice - Pharmaceutical News - Valeant Surrenders Early Gains After SILIQ's FDA Approval - March 29, 2017

Pharmacy News Article

 2/16/17 - Valeant Surrenders Early Gains After SILIQ's FDA Approval

Valeant Pharmaceuticals Intl Inc (NYSE: VRX) shares are trading lower by $0.42 (2.6 percent) at $16.44 in Thursday's session. Before the open, the company announced it received FDA approval for SILIQ (a treatment for Psoriasis).

That announcement instigated a higher opening into the $17.00 handle, an area where the issue has struggled with since late November. As its turns out, its opening tick of $17.14 has turned out to be the high for the session.

After back-to-back days of near $1.00 gains, short-term traders utilized the higher open to take some profits. The ensuing decline took Valeant's well below Wednesday's close ($16.86), falling all the way to $16.12, but has since rebounded back into the mid-$16 handle.

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