Valeant pulled a rabbit out from its own ass, striking a deal with WAG for their overpriced meds. This is fantastic news for long, just in time for KRAMPUS. If you’re short the stock and ponder over your fate, just know, you are going to die today.
Valeant will cut prices by 10 percent for branded dermatology and ophthalmology products distributed by Walgreens retail pharmacies and plans to extend the model to independent retail pharmacies, the companies said Tuesday in a statement. The deal, which spans 20 years and more than 8,000 U.S. Walgreens pharmacies, starts in the first quarter and initially will cover medicines including the toenail fungus drug Jublia, acne products Solodyn and Retin-A Micro and eye drop Alrex. It will also cover Valeant’s over-the-counter products.
The drugmaker, which has come under fire for raising the prices of old medicines, also said it agreed with Walgreens to distribute more than 30 branded products at “generic prices,” reducing prices from 5 to 95 percent. Those reductions, specifically for drugs that have generic competition, are expected to take effect in the second half of next year, while the 10 percent cuts will be implemented over the next six to nine months, Valeant and Walgreens said.
“We have listened to what the marketplace is saying and we’ve taken positive steps to respond,” Valeant Chief Executive J. Michael Pearson said in the statement. “Our goal is to create a system that allows prescription medications to be dispensed and insurance claims adjudicated in an efficient manner while allowing physicians to focus their efforts on what matters most: patient care.”
Fucking toenail fungus drugs? Really? Is that what I’m invested in here? Nevertheless, the stock should scream higher today, as William Albert Ackman straps in and straps onto the short sellers who held onto this piece of shit stock one day too long.
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They needed new pharmacies to push their drugs. Chose the most hated largest chain, Walgreens who is dodging US taxes w/inversion play and will be laying off thousands if they can bribe, errr, lobby to get their deal with rite aid approved. Should be good for a squeeze ..
I think This piece o’ crap will end the day flat or down. Take your gift and say good riddance. Look at glassdoor.com and see how the CEO rates. Then go by Twitter and hold it instead of trading this garbage.
Did you just tell me to go to glassdoor.com?
Yes, that’s what I’m telling you to do. No modern era stock that generated 10x on your money was ever led by someone employees hate. You don’t even know what the company makes or that this deal with lower prices is better for Walgreens than VRX. Enjoy your quick scalp. The market giveth and it shall take it back.
Don’t you ever get tired of endlessly trading for mediocre returns and high risk? I used to think that was the way you made big money. It’s not.
Yep, toenail fungus drugs. It’s a “great” commercial but not as good as the walking large intestine for Xifaxan.
Bam! Xmas is suddenly looking a might bit cheerier.