May 27, 2016 / 2:43 PM / 2 years ago

BUZZ-Valeant Pharma: Reported offer shows assets still valued - analysts


** Troubled Canadian drugmaker’s U.S.-listed shares up 7.6 pct at $28.99

** Valeant had received joint takeover offer from Japan’s Takeda Pharmaceutical Co Ltd and TPG Capital Management LP this spring, but it rejected offer, Reuters reports on Thursday, citing a source familiar with matter

** “Although the companies do not appear to be currently in discussions, we see the approach as highlighting the underlying value of Valeant’s assets despite recent controversies,” JP Morgan analyst Chris Schott writes in note

** Mizuho Securities analyst Irina Koffler, however, writes in note that she does not think that Valeant’s assets warrant premium bid at this time

** Shares of other specialty drugmakers Mallinckrodt Plc , Horizon Pharma Plc and Endo International Plc also rise

** Joint approach for Valeant is latest sign reduced valuations in specialty pharma sector are attracting private equity interest, Susquehanna Financial Group analysts write

** Up to Thursday’s close, Valeant’s U.S. stock had fallen 73.5 pct this year

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