BUZZ-Valeant Pharmaceuticals: Eye drug meets goal in late-stage study

Thu Sep 25, 2014 11:45am EDT
 
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** Canadian drugmaker's Toronto-listed shares up 3 pct at C$141.43

** U.S.-listed shares up 3.3 pct at $128.09

** Company's unit Bausch+Lomb and French drugmaker Nicox SA say their experimental glaucoma drug, Vesneo, showed positive results in late-stage trial

** Companies say the drug could reach peak annual sales of over $1 billion

** Valeant names head of a top shareholder, ValueAct Capital, to its board of directors and says to continue with its hostile takeover attempt on Botox maker Allergan Inc

** Company on Wednesday said it expected Q3 revenue to beat analysts estimates, and adjusted earnings per share to exceed the company's forecast

** Shares touch a near four-month high of C$146.49 earlier in the day

** Up to Wednesday's close, shares had risen 10 pct this year