BUZZ-Valeant distribution deal good medicine for specialty pharma shares

Tue Dec 15, 2015 3:39pm EST
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** Shares of specialty pharmaceutical co's Horizon Pharma , Endo International, Mallinckrodt jump after Valeant Pharmaceuticals reveals drug distribution deal with Walgreens Boots Alliance

** U.S.-listed Valeant shares gain as much as a fifth in value

** "A big part of it is sympathy with Valeant," Stifel Nicolaus analyst Annabel Samimy says in explaining share price increases. "When Valeant got crushed, it essentially dragged the entire sector with them."

** In late afternoon Tuesday trade, Horizon up 9.1 pct, Mallinckrodt up 6.1 pct, Endo up 6.2 pct

** Stocks still well off 2015 peaks: Endo off 36 pct, Mallinckrodt off 45 pct, Horizon down 47 pct

** Specialty pharma stocks have been hurt by questions facing Valeant over pricing and other business practices

** VRX currently 15.8-pct higher, still down nearly 60 pct from 2015 highs

** Valeant to address investors at meeting on Wednesday