Allergan could be eyeing one or more companies as potential targets
Allergan, an Irvine, California-based pharmaceutical company, could be eyeing a number of different drug companies as potential buys, according to an Orange County Business Journal report.
The report cited analysts who mentioned Salix Pharmaceuticals, Actavis, Jazz Pharmaceuticals and Perrigo as potential targets for Allergan.
Future deals have been discussed ever since a bid by Valeant Pharmaceuticals to take over Allergan fizzled, the report said.
Tim Lugo, an analyst with William Blair & Co. who was quoted in the story, said that an acquisition by Allergan could help fight a potential takeover attempt by Valeant.
The report also mentioned a comment made by Allergan CEO David Pyott during a recent earnings call that his company is pursuing various options when it comes to acquisitions.
Analyst David Maris with BMO Securities said in the report that Allergan sounded confident in its ability to complete one or more deals in the next few months.
Allergan has USD 3.2bn in cash as of 30, June, the report said.
Source Orange County Business Journal